BENEFITS OF HOME OWNERSHIP
~ Pride of ownership: Owning a home is often described as being part of the American Dream
~ Pay it off in full: Renting never pays off
~ Reduced expenses after paying off loan: Once a mortgage is paid off, your housing expense is reduced to periodic taxes, insurance and maintenance
~ Interest rates are now low
~ Monthly rent does not increase
~ Appreciation: It is possible your home value could increase, giving you access to more equity
~Tax Benefits: Potential deductibility of mortgage interest and property taxes on you federal income tax
~ Forced Savings: Routinely putting money away for the house you own vs squandering it on new shoes or fancy meals.
~ Own taste: Can make your home to suite your own taste as you like [flooring, paint, wall paper, landscaping]
~ Stability: May be enhanced for families with children
~ Control: You can dictate who may live with you [pets, people] Landlords are obsolete
~ Can rent your space out: Potential second stream of income
~ No Landlord can kick you out or raise your rent: Nuff said
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