8 Benefits of Buying a Home
1. Mortgage Interest and Property Taxes are Deductible
Ask your tax advisor about deductions available.
2. Capital Gain Exclusion
If you have lived in your home for 2 of the last 5 years you may be able to exclude some or all of your capital gain. Consult your tax advisor.
Real estate can move in cycles, up and down. However, over the years real estate has appreciated. Buying real estate should be a long term investment.
4. Build Equity
Rather than paying rent, paying your mortgage will help you build equity.
5. Equity Loans
If you have equity in your home you may be able to qualify for a home equity loan, interest rates are much cheaper than credit cards.
6. Greater Security
You do not have to be worried about your landlord not renewing your lease or increasing your rent.
You have the ability to make the house your own. You own the home you do not need to ask your landlord for permission.
Any upgrades you want to do will benefit you not your landlord