| If you're thinking about buying a home, it's important | | | | charge. |
| to weigh the pros and cons. Whether it's a castle, a | | | | Investment |
| city townhouse, a beachfront condo or a sprawling | | | | Housing prices fluctuate slightly, but historically real |
| ranch, there are many advantages of owning a | | | | estate has proven to be one of the best |
| home. | | | | investments over time. It's a cliche worth repeating: |
| Security | | | | paying rent is like pouring your money down the |
| One of the most compelling reasons that people cite | | | | drain. Instead of putting money in your landlord's |
| for buying their home is security. They want the | | | | pocket, why not make a lasting investment in your |
| peace of mind that comes with not having to deal | | | | future? |
| with a landlord or noisy tenants in adjoining | | | | Tax Advantages |
| apartments with paper-thin walls. Many people feel | | | | One of the biggest reasons to own a home is the |
| more financially secure, knowing that they have built | | | | tax advantages it confers. Much of the interest and |
| up a substantial equity in their own home. They like | | | | property taxes that you pay is a deduction on your |
| the security of knowing they can draw on that | | | | annual income taxes. Many buyers find that home |
| equity if needed for their children's education, medical | | | | ownership gives them hidden tax benefits. Because |
| expenses or retirement. | | | | they now itemize their taxes, they can also deduct |
| Freedom & Stability | | | | state income taxes, charitable donations, theft losses, |
| If you have children, there's nothing better than | | | | moving expenses and miscellaneous items. A renter |
| sending them to your own backyard to play, instead | | | | may not have enough deductions to make it |
| of taking them to the park. Many people enjoy | | | | profitable to itemiz - a homeowner almost always |
| knowing that their children will grow up in the same | | | | does. |
| neighborhood, with the same friends and schoolmates | | | | Home ownership is a big responsibility, and it does |
| for many years. | | | | involve some maintenance. If you plan to move |
| Senior citizens and single people appreciate the | | | | across the country every year or don' have a reliable |
| freedom of home ownership. They can paint the | | | | income, then homeownership might not be the right |
| walls any color they like, put up a satellite dish for | | | | choice for you. However, most people of all ages in |
| their TV and build customized shelves without | | | | every income bracket find that home ownership |
| worrying what the landlord will think. Owning your | | | | makes sense when they consider security, freedom, |
| own home also eases those nagging fears about rent | | | | independence, investment and the tax advantages. |
| inflation. When you own your home, you're truly in | | | | |