
Homeownership has many benefits that come with it.
The most obvious benefit is building wealth. The U.S. Department of Housing and Urban Development (HUD) notes that “home equity is the largest single source of household wealth for most Americans.”
Home equity is the difference between the home’s fair market value and the outstanding balance of all liens on the property. Let us not forget about appreciation. Whilst there is no set year-to-year rate that is considered normal, reports indicate that you can expect around a 6.5 percent average value increase in your home each year.
Other wealth builders to consider are tax breaks and tax credits, such as the deductibility of property taxes…










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