What are the financial reasons for buying a home?
Reducing Income Taxes – With a mortgage, you may be able to deduct the interest you’re paying — and property taxes — from your taxable income. In some cases, owning is less expensive than renting. Buying for Profit – While there are no guarantees that your home will appreciate in value, real estate is often a good investment over the long haul. Building Equity – As you pay down a mortgage, you build equity in your home. You can use that value to secure a home equity loan or line of credit.
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