Advantages of Home Ownership

June 22, 2021
Owning a home of your own means you and your family can set down new roots, get to know your neighbors, and involve yourself in your community.

The ability to deduct your mortgage interest and property tax payments from your federal tax return is a major financial benefit of homeownership.

When you own your home, your mortgage balance goes down with each payment, and generally, your property value is going up. Rent payments go straight into the pocket of the landlord and at the beginning of the next month, you have nothing to show for it. Homeownership is the chance to stop paying your landlord’s mortgage.

In terms of renting, pet ownership can seriously limit your options! Even if pets are allowed, you almost always are required to put down a hefty pet deposit which you likely won’t get back.

You can personalize your home and make modifications as you see fit. You can really make it yours and you are investing in YOUR home!

Now is the time to take advantage of lower than average fixed-rate mortgages that will never change over time. Remember, rent payments almost always increase at the end of the lease.