1. Tax breaks
The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.
Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 5.2 percent each year from 1969 through 2012.
Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home through the portion of the payment that is applied to reduce the principal balance.
Building equity in your home is a ready-made savings plan. ...