Beside being in control of your future, there are some great benefits when owning real estate:
It is the increase in value of the property. Apreciation could be originated for the economic conditions or when you improve the property.
You can purchase a property that needs some repairs, in an area where houses are selling for more than what you are paying for and generate a great amount of income.
It is very important you consult a Realtor to help you choose the right property, in the rigth place.
The name of this game is Location, Location, Location...
You can deduct the interest you pay on your loan as well as the property taxes.
Ask your Realtor about how to get more deductions for your property
When you make your loan monthly payment part of the payment goes towards your principal and another goes to your interest. Amortization pays your debt slowly, giving you the opportunity of having more money on your pocket
Equity= Your Property Current Value - Principal Owed in the property
Everytime you make a payment you build equity in the house, because your property is usually going up, and your debt is being reduced when you pay.This can make you wealthy slowly
You can also have lines of credits that can be used to make other major purchases.
It is the use of borrowed money to finance an investment
Leverage, gives you the opportunity to put some money down. Example 5% of the value of the property, but you take control of 100% of the property and you also keep any income that the property produces.
Florida Real Estate Licensed