7 Benefits of Owning a Home

Number 4 is my favorite

Tax benefits.

The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home on your annual tax return.
Plus, if you own a business or side hustle, you can deduct part of the costs of the home as a tax deduction as well.

Appreciation.

Every year from 1972 to 2014, property values increase 5.2%. Each year. 5.2%! These values were calculated by the National Association of REALTORS®.

The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.

Equity.

Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity in the ownership interest in your home.