10 reasons to own rather than rent
1. You own it: With no landlord, you make the decisions. 2. You deduct it: Mortgage interest, property taxes and some costs involved with buying a home can be deducted from federal income taxes. 3. Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re going to buy, this is the time to jump into the market. 4. You invest in it: Rent money is gone forever. Mortgage payments build home equity ownership interests. 5. You save for the future: Home equity is a ready-made savings plan. Sell it and you can make up to $250,000 cash without owing any federal income tax on the profit. 6. You can predict expenses: Unlike rent, a fixed-mortgage payment doesn’t get more expensive over time. 7. You pick it: Choose from different neighborhoods, styles and price ranges. 8. You create it: Decorate, renovate, get a pet or paint the walls whatever color you want – it belongs to you. 9. You live in a neighborhood: You and your neighbors take pride in t...