Property 101

Buying a home is a great long-term investment and can be beneficial in the short run as well. In the long run, you build equity in the home, which can be used to fund other investments, retirement, and more. Additionally, you can often borrow against that equity for home improvements or other expenses. Homeowners also have the potential to benefit from tax deductions associated with home ownership. In the short run, owning a home can also offer stability with set costs and the potential to build home equity faster. This can be beneficial, especially since rent prices can often increase faster than inflation. Lastly, owning a home can also provide a sense of pride and accomplishment that renting cannot.