What are the advantages of purchasing a home vs. renting?
There are several advantages to owning a home including: – Experience the American dream of owning your own home and increase your quality of living. – Use your home to take advantage of the tax benefits. Mortgage interest and property taxes are both tax-deductible expenses, while rent is not. Consult your tax advisor to see how home ownership can be an advantage on your annual taxes. – Saving through your home’s equity. Why pay rent every month paying for your landlord’s mortgage? Monthly mortgage payments build equity in your home. – You could experience appreciation in the value of your home with home ownership; a home is a great investment.
