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Today we’ll be discussing the reasons given by the Harvard Business Review about the advantages of owning a home. Here are five financial benefits to homeownership:
1. Housing is typically the only leveraged investment you have available.
2. You’re paying the cost of housing whether you own or rent, so you might as well own.
3. Owning a home is a way to put your money into forced savings as you build up equity in your property.
4. There are substantial tax benefits to owning your home.
5. Owning a home is a hedge against inflation.
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Owning a home is a hedge against inflation.
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While these benefits are largely financial, there are also emotional advantages to owning a home that you may not have considered:
1. Owning a home is a good way to pass along wealth to your family.
2. You have a physical shelter to provide space and safety for your family.
3. A home is a place to raise your kids.
4. Owning a home gives you total control over your living space and your overall life in general.
These are just a few of the ways in which owning a home can benefit you fiscally and improve your quality of life at the same time.
If you have any questions about buying or selling a home, please feel free to call, text, or email me at any time. I’d be happy to help!
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