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One of the best ways for a person to build wealth is to invest in the future. Some of the most popular types of investment categories include retirement plans, mutual funds, stocks, and commodities. Another proven-effective way to invest your money is through purchasing real estate. Although the ongoing pandemic has made 2020 a financially challenging year for many Americans, historically low interests rates make it an attractive time to invest in real estate. With this in mind, read on and discover a few reasons why real estate remains a smart investment in 2020. 

Real estate provides owner tax reductions.

One frequently overlooked benefit of owning real estate is that it is tax deductible. This is because tax codes permit various deductions on the interest paid on the mortgage, home maintenance, improvements, and property upkeep. These deductions can reduce your overall taxes, saving you money every year.

Real estate investments will likely appreciate. 

Appreciation is one of the most compelling reasons to invest in real estate. When the National Association of Realtors started tracking real estate appreciation levels in 1968, they reported an average rate of about 6% a year. While there are no guarantees that a home will appreciate in value over time, history has shown us that real estate will continue to appreciate in value.

Equity is built over time. 

Most people require a mortgage in order to purchase real estate. Through debt financing from a lender, a lender can purchase a home by putting down a small percentage of the home. This is known as a downpayment. Over time, the reduction in the principle amount builds your equity in the home. 

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