BUY VS RENT

BUYING INSTEAD OF RENTING?

• EQUITY.  One of the key factors when buying a home is to treat it like an investment.  One of the most important reason to buy a home, is to build an Equity. Your home is also you biggest asset, it can give you tax benefits, savings and historically the real estate has shown to be stable with decent – stable growth that can have good appreciation annually. Your home is your biggest investment and over time with proper planning, you can have decent equity. As property value increases so does your equity in the home, it increases gradually! If you are renting that is basically throwing money away, making someone else Rich, because you are paying off their mortgage and building their net worth (equity) instead you should build yours. Always, consult a professional before moving forward.
• PAYMENTS. Fixed or Variable? The monthly mortgage payments can be fixed (fixed mortgage rate loan) for the term of the loan, payments are consisted of Principal and Interest which can remain fixed for the terms of the loan. In long term that is the biggest benefit of buying a home vs renting where monthly payments can change once lease ends. When renting, you are basically in a lease where the rent can change as owner sees fit once lease ends. If you have a fixed mortgage for example for 10, 15, 20, 30 years, then the mortgage payment (principal and interest payments) can remain fixed for the life of the loan. This should be the biggest & best reason to buy vs. rent!
• BENEFITS. Tax benefits is the one of the biggest reasons to buy a home vs renting a home. If renting a home you cannot take any deductions on interest paid or taxes paid on a property. As a homeowner you can have tax benefits, for example deducting interest paid on mortgage and taxes paid for the property and your CPA can help you understand better how that works. Buy a home get benefits vs rent a home get no benefits, the Choice is simple!
• OWNERSHIP. As a homeowner you have a home to live in, peace of mind, stability, security, predictability, create memories, family, freedom, etc. Your home is your place to come to as you wish, call it a home as long as you like, design it they way you want, create memories as you wish, make it yours because it is your home. No Rent! No Landlord! No Rules! You make your own rules because it is your Home. 

Buying or Selling . . .

Or just daydreaming about a new home, we can help, provide great information, educate you on the process and assist you in making an informed decision. 

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