09/04/2026
7 Great Reasons to Own A Home…
Appreciation. Historically, real estate has had long-term, stable growth in value and served as a good hedge against inflation. Census data shows the median price of a home jumped from $172,900 in Q4 2000 to $417,700 in Q4 2023. That's greater than 6% appreciation per year on average.
Equity. Money paid for rent is money that you’ll never see again, but paying your mortgage month over month and year over year lets you build equity ownership interest in your home.
Tax benefits. If you itemize deductions on your federal tax return, the U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes (up to $10,000 according to current tax law), and some of the costs involved in buying a home. Be sure to talk to your accountant to see if it's advantageous for you to itemize.
Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally exclude up to $250,000 ($500,000 for a married couple) of gain without owing any federal income tax. The IRS provide guidance on how to qualify for the exclusion.
Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise from year to year. So, as a percentage of your income, your housing costs may actually decline over time. However, keep in mind that property taxes and insurance costs may increase.
Freedom. The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.
*Information shared from the National Association of Realtors.
