human
What are the tax benefits of owning a home?
assistant
The primary tax benefit of owning a home is the ability to deduct mortgage-related expenses, such as mortgage interest and property taxes, when filing your taxes. Additionally, homeowners can take advantage of other income tax deductions, such as points paid to obtain a lower mortgage interest rate, and deductions for home improvements or energy-efficient upgrades. These deductions can result in significant tax savings and reduce the amount of taxes you owe each year.