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NOTE: The information provided on this website is in no way intended to provide financial or legal advice but rather examples that might be useful to consider.

1) Tax benefits – There are numerous tax benefits for owning property. If you live in the home you own, the interest on the mortgage and the property taxes are tax deductible. 

2) Building equity – Building equity is one key advantage of owning or investing in real estate. When we rent, none of the money we spend is recaptured. When we own, we are still paying for a mortgage and bills but some of this money is recaptured (the money that is spent paying down the principal). When equity is built up to a certain point, we have the option to refinance and pull that equity out and use the cash for our next big move. Selling the property is another way to access the equity that we built in the property.

3) Stable housing – When we own property, no one can decide that we can no longer live in it. When we rent, the landlord may decide that they no longer which to rent out the property and we must move once the contract has expired but if we own the property we are certain that we will be able to stay indefinitely as long as we pay our bills and abide by the law.

4) Customizable/Increased flexibility – When we own our own property we also have the ability to customize our home in any way we choose as long as we abide by the law. This increased flexibility can be a great thing.

5) Shelter from inflation – Real estate usually appreciates and the value generally keeps up with inflation. This makes it a good shelter against inflation.

Buyer Guide <—– Click here

Other useful resources:
1) https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
2) https://www.investopedia.com/mortgage/real-estate-investing-guide/
3) https://www.irs.gov/faqs/itemized-deductions-standard-deduction/real-estate-taxes-mortgage-interest-points-other-property-expenses/real-estate-taxes-mortgage-interest-points-other-property-expenses-5