When deciding to buy a home, people typically consider both financial and lifestyle benefits. Rental payments do not provide a tax benefit. Equity Build-Up Homeowners build equity that is not realized by renting. Equity can be used to finance your children's education, make major home improvements, even buy a vacation home. The equity you build translates to a bigger down payment on your next home.
Equity helps to secure a solid financial future.
Realizing the dream of homeownership is a source of pride and accomplishment. You make your own decisions rather than living with someone else's choices. You decide when to move, rather than your landlord. Although this example has been simplified for tax benefits, maintenance and the cost of selling the home, the return the homeowner would receive is dramatic. This is why many financial experts agree, the smart money is on homeownership.