If you are renting your home right now, you will want to read these top 10 reasons to buy a home instead of rent. From pride to tax savings, you’ll wonder why you haven’t bought your home yet. Here are the top 10 reasons.
1. It’s YOURS! No one else can tell you what to do. Whether you want to have a pet, plant a garden, mount a TV on the wall or install tile floors, it’s your choice.
2. Major Remodeling. Put in a pool. Expand the driveway. Add another room.
3. Appreciation Benefits, Including Leverage of Cash Invested. As a home appreciates, it accrues faster than other investments due to the appreciation on all of the home’s value, and not just the gain on your deposit.
4. Tax Benefits. Homeowners are allowed to deduct mortgage interest and property taxes when they file tax returns each year. These savings can often make owning the same as, or cheaper than, renting.
5. Mortgage Costs Stay the Same as Rents Rise. If you get a fixed-rate mortgage on your home, your mortgage payment will never change.
6. Forced Savings. When you make your monthly mortgage payment, a part of that payment pays down the loan, giving the owner more equity in their home.
7. Customize Your Furniture for Your Space. Moving from place to place usually requires purchasing new furniture to fit the space.
8. Homeownership Allows You to Build a Second Income Stream. You can choose to rent your home, or even a room in your home for an income stream.
9. No Landlord Can Kick You Out (And you never have to speak with one again!). Renters can face an unexpected eviction notice if their landlord suddenly decides to sell the home, rent to someone else, or otherwise end the lease.
10. No One Can Enter Your Home Without Your Permission. No more coming back home to find a note saying that your landlord or a repairman has been in your home.
Buying a home has so many other benefits. To learn more about buying versus renting your home, please contact real estate broker and attorney at law David Dowell, by phone/text at (407) 864-2265, email at david@PanAmOrlando.com, or visit us online at www.PanAmOrlando.com