For most people, buying a home is one of the most important decisions of their lives. The decision is not usually an easy one. Here are 10 good reasons why we think buying a home is one of the best investments you make.

IT WILL BE YOURS AND YOURS ALONE

The freedom of owning your own home can't begin to compare to the restrictions that renter’s experience. You can paint the walls the color you like. Hammer a nail where you want. All without hassle from a landlord.

LIFESTYLE

Homeowners are a different breed. When you live in a neighborhood or building that is basically owner-occupied, your neighbors, like you, have invested in and care about their property. Quite naturally, they're willing to invest more of their time, money and efforts to improve their property and community    which, in turn, improves the value of your property!

EQUITY BUILDUP

Rental payments are gone, once you have made them. But, with each mortgage payment, you are "buying" something tangible, building up equity. The longer you own your home, the larger your equity.

KEEP UP WITH INFLATION

A home is an investment that helps you keep up with inflation. Although not all homes appreciate at the same rate and some years are better than others, real estate has historically kept pace with and usually appreciated faster than the rate of inflation.

INCOME TAX BENEFITS

Under current law, all interest paid on a mortgage incurred in buying a home is deductible for tax purposes as long as the mortgage does not exceed $1 million. In the early years of your mortgage, most of your payment is interest. Remember too, that real estate taxes are still deductible.

Later on should you decide to take advantage of the growing equity in your home by taking out a home equity loan, the interest on up to $100,000 of a home equity indebtedness is tax deductible.  Under current law, the proceeds of these loans can be used, as the homeowner desires.

PAYBACK ON IMPROVEMENTS

A renter who makes any property improvements gets no financial benefits from them if he or she relocates. But as a homeowner, you can realize some or all of the cost of improvements when you seII your home.

TRADE-UP VALUE

Even if your first home isn't your "dream home," you will be working your way up to it when you buy your home. With appreciation and possibly some improvements, it may provide you with enough equity to make a down payment on your dream home later.

SECURITY FOR RETIREMENT

Unlike rent, which goes on forever, the mortgage on your home will be paid some day, providing you with "rent free" living for your retirement.

INVESTMENT PROPERTY

For some, second single-family homes or condominiums are proving to be good income investments and tax shelters. You will be realizing profits and tax benefits from renters who don't yet know the benefits of owning a home.