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The American Dream
of Home Ownership

Purchasing

A home is where your story begins. A home not only means security for you and  your family, but also a place to call your ‘own’. No longer will you be subject to the whims of a landlord. A home invites you to be part of a community in which you and your family will develop relationships that will often last a lifetime. A home also provides stability for you and your family; according to studies, the children of homeowners tend to excel in their development when compared to the children of renters 1. And when compared to renting, communities comprised of homeowners tend to be better maintained and safer.

Let’s Not Forget the Economic Benefits of Purchasing

Purchasing a home is often the most important investment decision someone makes in a lifetime. Most people understand that owning a home is a great tax shelter. But not all people understand how great these benefits can be. More about the three economic reasons to own a home more fully here.

Leverage

Larger assets will grow more quickly than smaller assets such as mutual funds, even when the rate of appreciation is the same.  In addition, because part of your mortgage payment goes to pay down what you owe each month, the effects of leverage are enhanced.

Tax Deductibility

A homeowner can deduct the interest on their primary residence and second home. Home equity debt can be deducted as well. Plus, homeowners can receive a deduction on their state income taxes.2

Inflation Protection

When your landlord raises your rent by 5%, the entire payment goes up by 5%. A fixed rate mortgage payment does not change, except for a small portion of the payment – the real estate taxes and insurance. This means that the mortgage payment goes up much slower than rent and thus provides protection against inflation.

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1. According to the Research Institute for Housing America and the Mortgage Bankers Association. 2. We recommend that you contact your tax advisor to determine if are eligible and will benefit from the tax benefits of owning.

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