What are the Tax Advantages of buying a home?

What are the Tax Advantages of buying a home?

What are the Tax Advantages of buying a home?

In most cases, the mortgage interest (and property tax) may be itemized and deducted from your taxable income, lowering your overall tax bill. This can make your after-tax cost of home ownership lower than renting. However, there may be tax implications if you later sell the home at a profit. Please consult your tax adviser regarding interest deductibility.