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Home Ownership
Homeownership has many advantages - both personal and financial - but buying a home or an investment is an important decision. Understanding the differences between renting a home or an apartment and buying your own property can help you decide if it is the right time to make that decision right now. Benefits of Home Ownership or Owning Real Estate Investments: Tax savings You may earn significant tax savings.benefits because you can deduct mortgage interest & property taxes from your federal income tax as well as many states' income tax if you itemize your deductions. Speak with your CPA or tax advisor and you'll see the huge benefits. A stable monthly housing expense Your monthly housing loan or mortgage expense can remain the same for the life of your mortgage, depending on the type of loan you choose. You can do a 30 year or 15 year mortgage and most of the loans today even have a NO prepayment penalty. Equity in your home or investment You may build equity in your home over the life of your loan, which allows you to plan for future goals like your child's education, starting your own business or your retirement. Personal satisfaction Your home can be a great ... more
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