5 Indicators That Show You're Ready for Home Ownership

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Buying a home is the biggest step mankind can make toward the American Dream, and you need to be sure you're ready or you can end up with a financial disaster. Luckily, your life and bank account give you clear signs to guide your way. If your financial planning indicates you are ready for home ownership, then this could be the perfect time to buy.
5 Indicators That Show You're Ready for Home Ownership

5You Want a Tax Break

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Spoiler alert: Buying a house can be great for your taxes. It's pretty likely that a significant percentage of your monthly mortgage checks will go to interest. That interest? Tax deductible. Every year. That is, within Internal Revenue Service guidelines, of course. Expenses you incur to maintain your home could possibly be deductible as well. And the taxes you pay every year on your home end up being tax deductible, too. When you're ready to move out, if you lived in your home for at least two years, you can make up to $250,000 in profit from selling your home at a higher price without having to pay taxes on that gain.

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