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The Benefits of Owning a Home of You Own
We all know the social benefits of owning a home. Homeownership gives family stability, creates lower high school dropout rates, and of course gives the opportunity to create meaningful and lasting relationships. In addition to these great pluses, owning a home can be your largest financial asset.
First, you'll have access to homeowner tax breaks, which include the mortgage interest deduction (MID), property tax deduction, and credits for green-friendly updates to your home.
What all of these deductions mean is you can save money on your taxes each year. That's money back in your pocket. Additionally, the eco updates you do will save you money in the long run on operating costs of the house. Some of these great updates can include energy efficient windows and doors, and solar panels.
You may have heard that real estate is a good investment. You may also be wondering if that is still true when home values are declining. The truth is that real estate has always been a good “long-term” investment.
The fact that many people were making bank by buying and selling real estate in the mid-2000's was more of a fluke than the norm. Twenty ... more
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