Congratulations! You decided that you want to move into a house, but now have another choice to make: rent or buy? What is the difference? Does it truly matter which decision I make? YES! Home ownership has many benefits, both financial and personal!
Predictable monthly payments.
When purchasing a home, you can lock in your mortgage rate over a span of 30 years. When renting, a landlord can increase the payment amount whenever the lease expires. A fluctuating monthly payment can be unpredictable and hard to plan for!
Appreciation.
Owning a home is one of the best investments you can make. It gives you a valuable asset that appreciates, or earns, money over time. "A $200,000 home today should see an increase in value to $250,000, $300,000, or more—depending on how long you plan to live there and market conditions." A benefit for your future self!
Tax benefits.
Property taxes, accounting costs and mortgage-interest are all tax-deductible. Homeowners save an average of $3,000 in tax deductions alone. WOW!
Cheaper.
Buying a home can seem more expensive and daunting up front than renting. However, buying is the more affordable choice in 58% of U.S. markets. Who doesn't want to save money?
Freedom.
Feeling inspired by HGTV and want to knock down a wall and install some shiplap in the dining room? One of the biggest benefits of owning a house is that you CAN!
Ownership.
When renting, you can potentially get kicked out at the end of a lease period. When you buy a home, it's yours. You decide if and when you want to move. Stability is priceless!
Are you ready to own a home? Our agents at Bella Casa Realty are experts in the local market and truly care about their clients. Feel free to contact us with any questions, we know home buying can be a daunting process!