Through home ownership, the money you
pay for shelter every month will be an investment in your future,
not someone else's. Each mortgage check you write will build equity
- the difference between what your home is worth now and what
you paid for it. When you sell, you collect the equity as your
profit. This profit can help put you into your next, larger home.
Or you can tap the equity for college tuition loans or retirement
funds at a rate which is generally lower than those available
on personal loans. Also, paying on and ultimately paying off a
mortgage is an excellent way to establish a good credit rating
and prove financial stability.
Your home purchase is not only an investment in your future, it's
a powerful tax benefit as well. You can deduct both the interest
in home mortgage payments as well as property taxes.
Personal Freedom
Home ownership frees you from the whims and dictates of a landlord.
There will be no unexpected rent hikes. You will be able to decorate
as you like, have a dog or cat, and make improvements on your
property. You gain privacy and the freedom of expression.
