Why Buy Instead of Rent
Home ownership brings many benefits. When you buy your first home, you’ll become part of a community and experience the security of owning the roof over your head. As a homeowner,
you may also be able to……..
1. Set a budget, take control
Avoid rent increases and cancelled leases, when you buy a home you can lock into a monthly mortgage payment that is fixed until your home is paid off. And with today’s interest rates your home payment is often less than what you pay in rent!
2. Make your home truly your own
When you rent a home you are limited to what you can do to decorate or where you may make changes and you certainly do not want to invest money into large improvements. Home ownership allows you to decorate any way you wish and the improvements add to your investment!
3. Build home equity
Grow your assets with the principal portion of your mortgage payments as your property value potentially increases.
4. Get tax benefits
Home ownership allows you to deduct mortgage interest and real estate property taxes on your income tax returns. (Consult your tax advisor ).
5. Build your credit
With home ownership you will create a strong credit history by making on-time mortgage payments.