Owning
a home probably ranks high on your list of financial
goals. There are strong emotional reasons for wanting
to buy real estate. Owning your own home can help you
feel like part of a community and is a tangible sign
of what you’ve accomplished. But owning a home can make
sound financial sense as well.
Homeowners enjoy some of the best tax breaks around. And unlike
stocks
and
bonds,
your home is an investment you can live in.
But purchasing a home is also a major financial commitment, so you need to
weigh the potential advantages against the potential disadvantages, and make
sure your timing is right.
Your credit history — as reflected in your credit report and credit score — can
have a big impact on your ability to qualify for
a mortgage and other types of loans.
