Your clients, Hanna and Jessica, are considering buying a home after living in an apartment and saving money for three years. In addition, they are eyeing a possible purchase of a beach house as a rental property within the next five years. They have come to you for advice about the benefits of homeownership.

Choose a topic from the chapter related to homeownership or owning a rental home and expand on the topic by explaining the rules supporting it for your clients.

Discuss at least one tax-related advantage of home or rental property ownership that you would share with them.