Homeowners enjoy substantial tax benefits, starting with their closing costs.
Point, or loan origination fees, are deductible for buyers or sellers, whoever pays them. The interest payments on your mortgage payments are tax deductible. If you decide to remodel or add on to your home, you can obtain a home equity loan to pay for the expenses and interest on that loan is deductible too. Finally, most homeowners don't have to pay capital gains tax on the appreciation of their home. The Internal Revenue Service has useful pamphlets regarding home ownership.