Purchasing your own home is perhaps one of the most important financial decisions you will ever make. In addition to experiencing a real sense of pride, you feel like you have received your small piece of the American dream. Best of all, this experience can be shared with the people that matter most in your life: your family, friends and loved ones.
In addition to pride of ownership, purchasing a home can also benefit you financially. As a homeowner, you are most likely eligible for mortgage interest deductions, property tax deductions and capital gains exclusion. Best of all, your home may go up in value while you are living in it. Thus, you will be in the position to profit from the sale of your home.
As you go through the process of purchasing a home you will face many questions. Is buying a home the right move for me? Can I afford a home? How much money will I have to put down? What areas would I prefer to live verses where I can afford to live? As you begin the process of uncovering answers to questions like these, you are well on your way to owning your own home.