What are the advantages of buying a home, rather than renting?
First is the sense of satisfaction and pride of ownership you will have owning your own home. With that ownership comes the freedom to do with your home as you see fit, provided you adhere to zoning and other requirements. You can repaint it, replace the 1970s hargest gold appliances or that old shag carpet — essentially you have the freedom to create your own environment that reflects your tastes and preferences. You also benefit financially from owning your own home: You can deduct the mortgage interest and property taxes from your income taxes. In addition, because your home is likely to appreciate (increase in value) over the years, it represents a good investment. When you rent, your monthly rent payment is gone forever once you write that check. When you buy, your monthly mortgage payment is paying for a solid investment that could well end up being worth much more than you paid for it.
