Home Ownership vs Renting

We all need to live somewhere and it costs money. The Federal Government has made home ownership a sign of success in the United States with tax favors, sponsored lending (think FHA, Fannie Mae and Freddie Mac) and other enticements to own.

When you own a home, you can deduct the mortgage interest (usually), property taxes, and in most markets, count on an increase in value year after year.

The community benefits when people own their own homes. Home owners tend to be better employees, have job stablity and their children get better grades in school.

Home ownership also comes with responcibilities: If some thing breaks, you get to fix it; failure to pay your mortgage can devistate your credit; and your neighbors (mortgage lender) expect you to keep your property up to maintain the value.

Visit with a mortgage professional or take a home ownership class to see if you have the resources and want to make the commitment to become a home owner.

MMM