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Why Should You Own a Home?

Some advantages to renting:

  • flexibility in that you can live in a neighborhood for as little or as long as you want,
  • you're free of most maintenance responsibilities,
  • you are not responsible for upgrading appliances,
  • you do not have to pay property taxes and special assessments,
  • lower monthly cost of housing,
  • you avoid the risks that homeowners face, housing prices decline or foreclosure risk.

Beneficial reasons for owning a home:

  • build equity over time through paying down the mortgage and appreciation increases,
  • tax advantages; deduct mortgage interest and property taxes; you may find that it's cheaper for you to buy than to rent,
  • monthly payment stability based on your mortgage.
  • capital gain exclusion if you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains upon selling your home,
  • equity loans for lower interest than credit cards and the interest is tax deductible.


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