There's no place like home.  There's no place like home.  There's no place like home.

When it comes to tax savings, as a homeowner, there is no place like home. 

Homeowners are eligible for an annual tax deduction for mortgage interest and property taxes.

The most significant tax break ( in my opinion ) comes when it is time to sell your house.

Single homeowners can claim up to $250,000 and couples can claim up to $500,000 in profits free of property gain taxes.

P.S.  You must have lived in the house at least 2 of the lat 5 years to get the full deduction. 

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