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Why Buy a Home? Owning a home is a great experience. It is typically the largest and most expensive investment you will make. There are many advantages to owning your own home. Appreciation on your investment Unlike owning a vehicle, your home’s value should appreciate over time. Try to think about your home logically rather than emotionally. Consider your home as an investment. Before making a decision, analyze the many factors and weigh the pros and cons of buying a home. Rule of Thumb – any large investment decision should be based on solid reasoning, NOT emotion. Stable housing costs As a renter, you never know when your rent will go up. With a home, you can take out a fixed rate mortgage so you will always know what your monthly payment will be. Tax deductions* Homeownership offers significant potential income tax deductions. Available deductions may include: Mortgage interest Real estate taxes Loan points paid on a purchase Seller paid points are deductible by the buyer * IRS CIRCULAR 230 NOTICE. Any advice expressed above as to tax matters was neither written or intended by AllQuest Real Estate® to be used and cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed under U.S. tax law. If any person uses or refers to any such tax advice in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement to any taxpayer, then (i) the advice was written to support the promotion, marketing (by a person other than AllQuest Real Estate®) of that transaction or matter, and (ii) such taxpayers should seek advice based on the taxpayers particular circumstances from an independent tax advisor. Gain Equity Unlike renting, your monthly house payments will be going towards something worthwhile. Over time, as you pay down your principle balance, you will gain equity. Property value appreciation also helps to build your equity. Think of your home as a savings account, whose value increases over time. You control your property When you own a home, you can do whatever you want to do with it. You can paint the walls, install a deck, install a swimming pool, and the list goes on and on. Being a homeowner provides a strong sense of pride and accomplishment; it can be very rewarding.