There are numerous advantages to owning a home versus renting. When you want to paint your living room, you can just go right ahead and do so. After all, it is your home! There are also tax benefits in addition to the current tax credit provided by the Housing and Economic Recovery Act of 2008.

Mortgage interest and property taxes are tax deductible, which can assist to reduce your overall income taxes. In addition to the tax benefits, owning a home allows you to invest in yourself and your future by building equity as homes typically increase in value over time*. When you add the fiscal benefits to the freedom you will experience as a home owner, there is really no reason to rent.

*although home values traditionally increase over time, there is no guarantee that Real Estate will gain in value