Buy or rent? Contemplating renting or making the move to home ownership? Consider all the benefits to home ownership. The best financial decision could be to buy, not rent. Home buying benefits:
- Affordable monthly payments
Don’t assume monthly rent is cheaper than a monthly mortgage payment. With hundreds of loan products, that’s often not the case! There’s product that are equal to, or only slightly more than, current monthly rent payments.
- Tax savings
Owning a home can save hundreds (even thousands) of dollars in taxes each year – money that can be reinvested into the home to build equity, earmark for savings, or just spent!
- Predictable expenses
Unlike renting, owning a own home means predictable monthly living expenses. Secure a fixed-rate loan and lock in your mortgage payment, making monthly budgeting that much easier.
- Ultimate control
Perhaps the biggest benefit is the inherent joy of having a piece of the American dream along with the freedom to make decisions about living. Whether or not to share your life with a furry, fuzzy or scaly friend? Whether to paint the walls merlot, marigold or mahogany? Whether to add a bath, knock down a wall, or take out a tree?
For further questions on buying versus renting, contact Christina today!