The Benefits of Home ownership

Homeownership is about security, comfort, and fulfilling the American dream. The sense of community that comes with putting down roots in a place of your own, the security of owning the roof over your head, the opportunity for financial growth--all these accompany the choice to become a homeowner. But buying a home is also the single largest investment most people ever make. Along with all the benefits of homeownership comes the responsibility to manage that investment wisely.

The Benefits of Homeownership
The rewards of owning your own home include many benefits unavailable to renters. Among other things, homeownership allows you to:

• Start building wealth: Making a mortgage payment every month builds up your equity stake in your home, contributing to your long-term savings and helping you solidify your financial future.
• Reduce your tax burden: The interest you pay on your mortgage is usually tax-deductible, which can lead to significant tax savings--especially in the early years of the mortgage term, when most of your monthly payments go toward interest. Make sure you consult your tax advisor about the deductibility of interest.
• Build your credit history: Timely mortgage payments can contribute to a positive credit history.
• Eliminate landlord hassles: You'll no longer have to fear non-renewed leases and rent increases.
• Make the house your own: Aside from zoning rules, Homeowner's Association requirements, and local building codes, you'll be free to decorate, remodel, and renovate as you wish.