Money Girl 8 Ways Homeownership Builds Wealth in 2026
Jan 28, 2026
Clear breakdowns of mortgage interest rules, itemizing versus the standard deduction, and new 2026 PMI tax changes. Explanations of SALT limits, home office deduction basics, and capital gains exclusions on home sale. Discussion of building equity through payments and appreciation, owning as an inflation hedge, and nonfinancial benefits like stability and community.
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Keep Deductibles Tracked All Year
- Track deductible expenses year-round so you can choose itemizing when it pays more than the standard deduction.
- Keep records of mortgage interest, charitable gifts, and medical costs to maximize tax savings at filing time.
Use The Mortgage Interest Deduction
- Deduct mortgage interest on up to $750,000 of mortgage debt if you itemize, with older loans grandfathered at $1 million.
- Save records of interest, points, and prepaid interest to support the deduction.
PMI Becomes Deductible In 2026
- Starting in 2026, treat PMI as deductible mortgage interest if your income is below the threshold and you itemize.
- Check income limits: $109,000 single (or $54,500 married filing separately) to qualify for the PMI deduction.