Gain Tax Advantages

Owning a home has another advantage.  Interest paid for a mortgage is tax deductible. You are allowed to deduct mortgage interest and property taxes from your federal income tax and from most states' income tax.  These deductions can mean significant tax savings, especially in the early years of the mortgage when interest makes up most of the monthly payment.

Investment

A home can be a very good investment.  Most homes increase in value , unlike cars and furniture and other personal property.  In most neighborhoods, a home will be worth more over time than it was when it was bought.

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