Are you currently paying rent and trying to decide if owning a home is a worthwhile investment?

Financial Benefits of Home Ownership:

Tax Deductions
Did you know that property taxes and the interest paid on a mortgage loan each year can be deducted from taxes for most homeowners?

Real Estate Tax Exemption
Many cities and towns offer various types of real estate tax exemptions.  The Cambridge, MA Residential Exemption applies to homeowners who occupy their homes as a primary residence and in 2010 results in a savings of $1,531.83 for homeowners who qualify.

Equitable Investment
Each year of homeownership as equity is attained; a homeowner can borrow against that equity using the home as collateral for a loan.  Many homeowners borrow against their home equity to make home improvements or other large purchases such as a new car or even for education loans.

Long Term Appreciation
Real estate is viewed by many financial advisors as a long term investment.  For any given city or town ask your local Realtor® for a market analysis report of residential sale prices spanning ten years or more.  In some cities and towns homes can double in value in as few as ten years.  Rental payments do not provide equity or appreciation of value that homeownership offers.

Consult a qualified financial advisor or tax professional to receive detailed savings for a specific property.