6 Financial Benefits of Owning a Home

Homeownership is a great responsibility.

But it comes with many benefits.

1. Equity – Every rent payment builds your landlord’s equity, while every mortgage payment builds yours.
2. A Financial Cushion – Your equity can be tapped via a home equity loan for anything from home improvements to college tuition.
3. Potentially lower monthly housing costs. In some markets, your mortgage payment could be lower than your rent.
4. Appreciating Value – Your home can increase in value over time, building your equity and increasing your net worth.
5. Tax Benefits – As a homeowner, you can deduct mortgage interest and property taxes from your income. – Talk to your tax professional for details
6. Level Payments – You’ll never have a rent increase again. With a fixed mortgage, your payments remain the same throughout the like of the loan.