What Are the Benefits of Owning a Home?
Home ownership gives you and your family a sense of stability and security. It’s making an investment in your future. There are no landlords looking over your shoulder and you are able to make home improvements knowing that any appreciation that results, will be to your own benefit. In Canada, especially in the last few years, homes have appreciated considerably and in doing so have added substantially to owners net worth. Unlike stocks and bonds, you get to live in your investment. Also, in Canada your principal residence is exempt from capital gains taxes. Each month, part of your monthly payment is applied to the principal balance of your loan, which builds your equity. You can borrow against a home’s equity for a variety of reasons such as home improvement, sending your kids to university or college, or starting a new business. Why pay-off your landlord’s property when you can own your own? Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that th
