Scheduled savings -- When you are a home owner, your monthly mortgage payments serve as a type of savings plan. Over time you will accumulate what lenders call “equity,” an ownership interest in your house that you may be able to borrow against or convert to cash by selling the house. On the other hand, renters continually pay rent to a landlord for as long as they rent, without the opportunity to build up equity.


Increased value -- Houses typically increase in value over time. It's common for a house that sold fifteen years ago to be valued at much more than its previous selling price today. This increased value is as good as money in the bank to the homeowner

Tax benefits -- Home owners are eligible for significant tax advantages that are not available to renters. Most importantly, the interest paid on your home mortgage is usually tax deductible and therefore can save you a substantial amount each year in federal income taxes.


Stable housing costs -- While rents typically increase year after year, the principal and interest portion of most mortgage payments remains unchanged for the entire loan period. Because of the effect of inflation, you pay the same amount with ever “cheaper” dollars._____
____________________________________

'____________________________________