Owning a home has long been considered an essential part of the American Dream and making the decision to buy your first home is probably the largest financial decision you’ve made in your life.
65.8% of Americans are fortunate enough to call their homes their own. As you think about your future, and your goals, it’s always smart to understand the benefits of owning a home. Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.”
- Homeownership can help you build equity over time.
- Your monthly payments will remain stable.
- You may have some tax benefits.
- You can take pride in ownership.
- Homeownership improves your community.