6 Benefits To Owning Your own Home
Benefit #1: Pride of ownership
Owning a home is pretty cool, especially when it comes with a private parking spot. No more door dings from inconsiderate neighbors or coming home to find some stranger's car parked in your reserved spot.
Benefit #2: Equity
It's possible to build $10,000 of equity in your own home over just a few years of homeownership. When you pay rent, however, the $10,000's of equity goes to your landlord (the property owner).
Benefit #3: Privacy
Just imagine how much more private and peaceful life would be if you were no longer sharing your walls, patio, parking lot, yard, etc. with your neighbors.
Benefit #4: Decorative Freedom
Paint your walls any color you like, replace the carpet with hardwood floors, update the kitchen. When you own your home, you can decorate it however you like.
Benefit #5: Security Features
Apartment complexes can be attractive targets for thieves and burglars. When you own your own home, you can install security features to help keep you and your personal property safe.
Benefit #6: Tax Deductions
In most cases, the interest you pay on your mortgage is tax deductible (consult your tax advisor).