The Benefits of Buying a Home

Buying a home provides not only a roof over your head and a warm, dry place to sleep, it is an investment in your future. No matter where the home may be, these benefits of buying a home foster a sense of identity for the homeowner and the others who live nearby. Here are some benefits of buying a home:

• Tax deductions

  Ask any homeowner about the benefits of buying a home, and tax benefits are always at the top of the list. Any interest you pay on a mortgage throughout the year is tax-deductible, and that can result in a very nice tax refund check from the government each spring.




• Equity

  The principle you pay on your mortgage is just like putting money in the bank as you build your equity position on the property. Since interest payments are generally front-loaded on a mortgage, the further into the term of the mortgage you get, the more of your monthly payment is applied to the principal of the loan.




• Indulging your decorating style

  One of the more obvious benefits of buying a home is the ability to decorate it any way you please. Of course, there’s no accounting for taste, but if you own the home and want to recreate the Jungle Room at Graceland right down to the zebra stripe wallpaper, no one but your spouse can tell you that you can’t.

continued...› | 11/6/2009