SHOULD YOU BUY?

• A home is generally a sound investment. Each month when you pay your mortgage, you're building equity in a place of your own. Equity is the portion of the property that you actually own, versus the portion that you still owe the mortgage lender. The longer you stay in the house the more equity you will have. And unlike most things you buy, a home usually increases in value as time passes.

• Home ownership offers great tax advantages. The mortgage interest and real estate taxes you pay are tax deductible. This allows you to deduct part of your housing related expenses from your income, which could reduce your tax liability significantly.

• A first home often leads to a better second home. As you build equity in your current home, it is easier to afford a more expensive home in the future.

• You are better able to plan your housing costs. Rent increases are unpredictable.

You gain the satisfaction and security of ownership. You can decorate and improve your home according to your own needs and desires. Owning a home may give you a new sense of pride in your surroundings and encourage you and your family to plant deeper roots in your community.

Disadvantages of Owning A Home

• Buying a home ties up your cash . The home should increase in value over time, but don't count on recovering your cash quickly.

• Owning a home usually makes moving more difficult and complicated.

• Home ownership usually costs more .