first deterioration in a partnership often develops when someone is unsure of their financial and legal standing. Remember, emotions should never enter into business transactions.

There are many tax advantages to owning your own home. For example, interest charged on your mortgage is deductable from federal income taxes. (In many cases, interest on the mortgage over a 20 year period can cost you more than the total amount of the money borrowed on the mortgage.)

Other deductions are possible for, say, damage to trees from sudden wind and ice storms.

All tax advantages, however, must be considered in light of your particular case.

One point however: If two people equally own property and have a wide difference in their individual incomes, in some tax cases it may be advisible to have the home under one

name.

If your income, or a particular situation warrants it, a tax expert or consultant may save you more money than his usually nominal fee.

Obtaining a mortgage for a home owned by two single people is not standard practice with most banks and insurance companies. However, it is not unheard of in some areas. Even if a mortgage is not feasible under these circumstances, cosigning of a mortgage is just one of the avenues of possibilities.

If you live in a large city, the only practical houses nearby are probably in the suburbs. Many homosexuals are reluctant to leave the glitter of the bright lights for what they feel are the dubious glories of the country. If these are your sentiments, consider these points. How many times have you spent weekends in the country with gay friends? Have a ball? Good. Chances are, so did they.

one

And they probably have a wonderful time each weekend as their various friends come out to escape the din of the city. Do your country friends. miss the city? Its doubtful. If they live close to any major city, they can usually reach the heart of activity in an hour.

Another important point for consideration is that a home of your own is an excellent investment. With each monthly payment on the mortgage, you are building equity, most of which will be returned if you decide to sell. Improvements made to a house increase its value way beyond the cost of the improvement. Also, most mortgage payments won't run much higher than the cost of the apartment where you now live, especially if you buy a house in keeping with your present standard of living.

As the lessee of an apartment, you are always exposed to possible rent increases. With a home of your own, you know what your payments on the mortgage will be every month. There is no chance for an unexpected increase in rent.

Financial experts consider a home an excellent hedge against inflation. For arguments sake, let's say you bought a home in 1949, and again, for arguments sake, let's say the American dollar was worth 75c in purchasing power at that time. It is now ten years later. Half of the mortgage is paid off. The remainder will be paid off in American dollars that are worth only about 52c.

While this article is not intended to give you the full details on puchasing of homes, it is hoped that you will give it some serious thought if it will serve your purposes. If you do decide to buy a home of your own, look into the situation carefully. A home is probably the largest investment you will ever make. Meanwhile, happy house-warming!