Tax breaks enter the home ownership picture from all angles: buying, owning and selling.  Remember, tax laws are constantly changing and complex, and you should consult with your professional tax advisor before filing any claims on your tax returns.  Here are the basics:

HOME BUYING
Tax-savings begin with deductibles allowed for:

• Settlement charges for the use of money, such as "points."
• Prepaid interest on prorated loan payments made between closing and your first mortgage payment.
• City, Township and/or County real estate taxes on the purchased property.