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Benefits of Home Ownership
Credit:
Owning a home helps you establish financial credibility.
Independence:
Owning your own home provides you with independence and more
privacy than renting. You are free to paint walls, plant flowers,
keep pets and anything else within legal bounds.
Investment:
As you make more payments and own more of your home, you add
to its investment value. Most improvements you make will also
add to its value.
Pride:
A home reflects its owner's values and lifestyle. Owning a
home can provide you with a source of pride, enjoyment and
satisfaction.
Security:
A home can provide security against inflation because the
value of your home increases as prices go up.
Stability:
Being established in a community provides a sense of belonging,
stability and security.
Tax Advantages:
Interest on your mortgage loan is deductible on your yearly
personal income tax return. Many of the closing costs associated
with purchasing your home are deductible, as are your property
taxes.
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