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of Home Ownership
you are currently renting and are considering
buying a home, here are some of the financial
benefits of owning your own home...
- When you purchase a home, you are making an
investment, and with every payment you make,
you increase the amount of your investment or
equity. In addition, your home will also appreciate
over time which also increases your equity.
- Since you own it, you can do what you want
to it, including painting, and home improvement;
both of which can increase your homes value.
Breaks - Another advantage to home ownership
is that the government allows you to write-off
the mortgage interest and property taxes you
pay every year from your income. This reduces
your taxable income and increases your chances
of receiving a tax refund.