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Enhanced Tax Benefits: Capitalize on tax breaks as the U.S. Tax Code continues to allow deductions on mortgage interest, property taxes, and certain home-buying expenses.
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Potential Appreciation: Home prices in the U.S. have risen for 11 consecutive years. In 2021, house prices increased by over 18 percent - the highest jump on record. In the following year, the market slowed down and as of July 2023, Freddie Mac House Price Index (FMHPI) measured an increase of 2.88 percent compared to the same period the year before. While appreciation isn't guaranteed, the potential for gains in home value remains significant.
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Equity Building: Unlike rent, mortgage payments contribute to building equity—a valuable ownership interest in your home.
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Savings through Equity: Your home serves as a built-in savings plan, allowing you to accumulate equity. Upon selling, you may qualify for tax-free gains up to $250,000 (or $500,000 for a married couple).
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Financial Predictability: Unlike renting, mortgage payments remain stable over the years, providing potential cost savings as you own the home for an extended period. Note that property taxes and insurance costs may increase.
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Personal Freedom: Enjoy the freedom to personalize your home to your liking, reaping the benefits of your investment for as long as you own the property.
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Stability and Community Connection: Long-term homeownership fosters stability, allowing you to participate in community activities, build lasting friendships, and personal and family educational continuity by residing in one neighborhood for an extended period.
