Equity: Equity is the difference between the value of your home and the amount you owe on the mortgage. As you make payments on the house, the equity increases. Typically values increase over time and your equity also increases.Savings: Money you pay for rent is gone forever. Purchasing a home is an investment. The Federal Reserve Board estimates that home owners have a net worth nearly 36 times more than that of renters.
Tax Benefits: You may be able to deduct the interest paid on your mortgage, property taxes, and even some of your closing costs from your yearly income taxes.
No Landlords: You have the ability to remodel, decorate, paint, garden and have pets without permission. It's your house!
No comments:
Post a Comment