One decision that many people struggle with is whether to rent or own.
Owning a home means making an investment in your future. Instead of writing a rent check and never seeing that money again, your check goes toward further owning your home. Each check cashed is one step closer to having a place to truly call your own.
Another benefit of owning your own home is the deductions on your taxes. Mortgage loan interest can be deducted from your federal income tax. You can also deduct property taxes.
Think of it this way: if you rent a home for ten years, the money you paid in rent for all of those ten years is gone forever. If you own a home for ten years, the money you paid went into completely owning that home. If you ever choose to sell that house, you will get that money back!
