Nine Great Reasons to Buy a Home

1. Quality of life – a home provides stability and security for you and your loved ones.

2. Pride of home ownership – it’s your personal haven.

3. Historically low interest rates – around 6.5 percent in the United States.

4. Appreciation potential – your home investment can grow in value.

5. Equity buildup and debt pay down – homeowners enjoy an average net worth of approximately $184,000 versus $4,000 for renters.

6. Leverage – where else can you buy an investment of this magnitude with 5–10 percent down?

7. Tax deduction advantages – property tax and mortgage interest write-offs (in Canada, homeowners gain a tax benefit upon selling).

8. Tax exemption – up to $500,000 per couple or $250,000 per person upon the sale of a primary residence in the United States (no tax upon sale in Canada).

9. The real cost of renting – at $800 per month, with the average 6 percent rental increase per year, you will pay $126,536 over a 10- year period but have zero ownership of the property.