Homeownership Makes "Cents". Why?

1. Homeownership is the best way to build wealth over time. Buy a home you can actually afford and don't use it as your piggy bank and you can gradually build wealth.

2. You build equity each month you make your mortgage payment, reducing the amount you owe on the property.

3. You get mortgage tax deduction benefits including the mortgage interest deduction, some closing cost deductions, and property tax deductions.

4. You can deduct interest on a home equity line of credit which could be used to pay off high interest credit cards. ( More below photo)

5. When you sell, you can get a capital gains exclusion if the home is your primary residence and you lived in it for two years.

6. Paying your mortgage payment each month is like a forced savings plan. That's a good thing, by the way.

7. Buying is cheaper than renting in most markets and as a renter you are paying off your landlord's mortgage instead of paying yourself.

So we believe homeownership makes sense and lots of ‘cents’.