Home ownership is still one of the best investments people can make. Home purchases are made for a variety of reasons, both practical and emotional. With the current market climate, making the decision to purchase a new home can be daunting but generally speaking, a real estate investment will, over time, prove to be a sound one*. While the days of “flip that house” are behind us, investing in one’s future has always been a solid decision. Even in the current market climate, property owners who purchased ten years ago are still enjoying appreciation of that purchase**.

From the practical side, paying rent offers no potential for investment or long-term rewards. Owning a home, however, provides one of the few tax deductions still available. Interest paid on a mortgage is deductible. This is especially significant in the early years of the mortgage. Almost the entire monthly payment is dedicated to interest rather than principal. The also applies to a HELOC (home equity line of credit). Additionally, property taxes are also deductible. The tax advantage alone makes home ownership a smart move***.