1. Tax benefits.  The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your

property taxes, and some of the costs involved in buying a home.

 

2. Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median

single-family existing-home sale prices have increased on average 5.2 percent each year from

1972 through 2014, according to the National Association of REALTORS®. The recent housing

crisis has caused some to question the long-term value of real estate, but even in the most recent

10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on

a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent

over the next decade, creating continued high demand for housing.

 

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you

build equity ownership interest in your home.

 

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can

generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal

income tax.

 

5. Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your

housing costs may actually decline as you own the home longer. However, keep in mind that

property taxes and insurance costs will likely increase.

 

6. Freedom. The home is yours. You can decorate any way you want and choose the types of

upgrades and new amenities that appeal to your lifestyle.

 

7. Stability. Remaining in one neighborhood for several years allows you and your family time to

build long-lasting relationships within the community. It also offers children the benefit of

educational and social continuity.

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