We are sure by now you have heard the old adage that buying a home is the largest purchase of your life. This is certainly true but the statement is not limited to the costs, it also includes the benefits. Real estate consumer guides will advise you that there is great personal satisfaction in living in a home that you own. A home is also a valued investment which can have many financial advantages and tax benefits. The amount of interest you pay on a home loan and the real estate taxes you pay on your home are among the few major federal tax deductions. Owning a home is the primary way most people build wealth. Homeownership is also good for our communities, because families who own their homes are more involved in their local communities and participate in local events. The benefits of homeownership are abundant including personal satisfaction, increased sense of community, potential tax savings, stability for you and your family, as well as an investment in the future.
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