2006-08-12 11:08:09 · 17 answers · asked by Anonymous in Business & Finance ➔ Investing
You can deduct mortgage interest and real estate taxes on your tax return thus saving on taxes. Real estate is usually a good investment and with sweat equity you can turn a fixer upper into a money maker. So, you don't just save on taxes you gain a great investment and you aren't lining a landlord's pocket, you're lining your own so to speak.
2006-08-12 12:09:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
From a financial perspective, a real estate property is an inflationary hedged asset, similar to gold. It's value will rise over time which protects the purchasing power of your money. Moreover, owning a home will open up opportunities in applying for other loans because the banks view a home as a great collateral towards a loan. A home can also reduce your income taxes AND offers you an opportuntiy to earn money through rent. Home is a GREAT investment.
2006-08-12 14:56:07 · answer #2 · answered by Eligible Alien 1 · 0⤊ 0⤋
Benefits: deduction of property taxes and loan interest from your income. A good inflation hedge. A good investment. A roof over your head.
Liabilites: maintenace, insurance cost. Everything alway breaks on Saturday evening, especially the plumbing.
2006-08-12 14:37:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Owning a home lets you repair or remodel when YOU want to, and not the landlord, and lets YOU enjoy the investment value of owning real estate and not a landlord. And it's a place, separate and apart from others' that you can look at and say, "That's MY home", and feel an extra degree of pride and enjoyment. Go for it. God Bless you.
2006-08-12 11:15:59 · answer #4 · answered by ? 7 · 0⤊ 0⤋
Well let me put it this way:
You live in a home for 20 years:
You either pay 500.00 a month rent for 20 years and own nothing, or pay 500.00 a month morgage and own the house. Is that benifit enough?
2006-08-12 11:14:33 · answer #5 · answered by InnerCircle 4 · 1⤊ 0⤋
Owning is better than renting because when you rent a house, you are paying rent every month, but you are not "buying" any thing, no matter how long you pay rent, it will never be yours. You can make a house payment for about the same amount per month as rent.
2006-08-12 11:14:52 · answer #6 · answered by BTNH_420 2 · 1⤊ 0⤋
When you pay off your mortgage (especially if you can pay it off early) you will find yourself with a bunch of cash in your pocket. No more payments. You will be able to afford things you only dreamed about before. I paid mine off 10 yrs ago. Best thing I ever did.
2006-08-12 11:50:59 · answer #7 · answered by Dean B 3 · 0⤊ 0⤋
Your free to make internal changes to suit, you can rent it out if you move and them come back. When you finally pay it off you can seel it and get loads of cash. Rent is money down the drain
2006-08-12 11:14:46 · answer #8 · answered by phoneypersona 5 · 1⤊ 0⤋
You will always have a roof over your head and you will never have to sleep in the street.
They should make it a human right.
2006-08-12 11:52:14 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Noone telling you to loud turn the music down and no landlords
2006-08-12 11:21:11 · answer #10 · answered by Ms.Moody1 3 · 0⤊ 0⤋