Buying a home is the largest purchase most people will ever make. Homeownership has great benefits. Homeownership also comes with certain responsibilities.
Homeownership has many advantages – both financial and personal. What are the benefits of homeownership?
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Tax savings; deduct mortgage interest, property taxes and more
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Depending on the type of loan, monthly payments will likely remain the same.
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Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home which allows you to plan for future goals like your child’s education or your retirement.
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The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home.
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Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.