1. Tax Breaks – The US Tax Code lets you deduct the interest you pay on your mortgage, your property taxes and some of the costs involved in buying your home.
2. Appreciation – While year-to-year fluctuations are normal, real estate has long-term, stable growth in value.
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 account. When you sell you can 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-mortgage payments do not rise over the years so your mortgage payment may actually decline as you own the home longer.
6. Freedom – The home is yours. You can decorate and make improvements any way you desire and benefit from your investment for as long as you own the home.
7. Stability – Remaining in one neighborhood for several years gives you a chance to establish lasting friendships, and offers your children the benefit of educational continuity.
Director of Relocation