Financial Benefits of Owning a Home

Pride of ownership is a key reason for wanting your own home. You can make changes as you wish. You can decorate it to your own taste. You can enjoy all of the benefits of home ownership while making a great investment in your future and reaping certain tax benefits.*

Over time real estate has been a good investment because most of it has appreciated in value.
Homeowners build equity and can borrow against that equity for a variety of reasons that could include college, medical, to start a business, etc.
Qualified mortgage interest and home equity loans are deductible for income tax purposes.
Property taxes on a home are deductible for income tax purposes.
When a home is sold, a homeowner can exclude up to $500,000 of capital gains if married, filing jointly or up to $250,000 if single or filing separately.
Mortgage payments include the interest for the time that the money has been used and principal to retire the debt over a period of time.

*Please consult your financial advisor, accountant, attorney or other qualified professionals for advice on the financial and tax implications of purchasing real estate.

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