The Top Tax Benefits of Home Ownership
Most people know that home ownership offers tremendous financial benefits. Your home is likely the biggest investment you will ever make! As such, it can significantly build your wealth over time. Making that monthly mortgage payment creates equity (vs. paying rent to build up your landlord’s equity).
Though real estate values may fluctuate, over the long haul, buying your home is always a solid investment.
Homeownership also serves as a good hedge against inflation. With a fixed-rate mortgage, you are guaranteed to pay that rate, despite what may happen to the economy. Even adjustable-rate mortgages (ARMs) cap how much and how often the interest rate and / or payments can vary in a year as well as through the entire mortgage period. Perhaps the most important financial advantage of home ownership is its tax benefits. To take advantage of them, however, you will need to itemize your deductions and consult with a financial professional or tax advisor (while we are not tax advisors ourselves, we will happily connect you with some excellent ones).
Made with FlippingBook - Online Brochure Maker