The Benefits of Homeownership

March 4, 2017

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Owning your own home is great.

  • There’s the benefit to your health – living in poor housing increases exposure to toxic substances, increases injuries, and decreases mental health.
  • Homeowners report higher life satisfaction and higher self esteem.
  • Homeowners are more politically active than non-homeowners and are mhands holding a houseore likely to participate in voluntary organizations and to attend church.
  • Buying a home costs less than renting a home.
  • The children of homeowners are more likely to stay in school and have higher levels of academic achievement than the children of renters.
  • Owning a home provides family stability.
  • Then there are the tax benefits. Homeowners can deduct:
    • points paid on your mortgage.
    • interest paid on your mortgage.
    • property taxes paid on your residence.
    • origination fees on your mortgage.

What’s your favorite thing about owning your own home?