Why Should I Buy When I Can Rent?

You might be asking yourself the question "Why should I buy a house instead of renting one?" Well, there's multiple reasons (apart from just the cost of rising rental prices)! Here are a few of the pros of buying over renting!

  • Building Equity

When you buy a home, you build equity with every mortgage payment rather than throwing your money into someone else's pocket or building their equity. With property values steadily increasing, not only are you building equity every month, but you also could receive a significant amount in returns or even make a profit should you choose to sell your home in the future.

  • Tax benefits

There are a multitude of tax breaks you can qualify for, such as deductions for mortgage interest payments, property taxes, and even an office space write-off if you work from home. Not only are you making a long-term investment, but you can be saving money in the short term, too!

  • Freedom to customize

Do you want to paint your bedroom grey and hang pictures on the walls? Do you want to add a deck and a porch swing out back to entertain guests? Do you desperately want to give the kitchen backsplash and countertops a much-needed upgrade? These are all things that you have the power and freedom to do as a homeowner that renters don't. You can make your space a ~home~ that you love and want to show off to your friends and family.

  • Predictable monthly payments

Rent prices continue to increase, but with a fixed-rate mortgage, your monthly payments won't change. Knowing that your bill won't change (especially when your paychecks aren't) gives you a peace of mind that you'll have as a homeowner.

  • Maintenance

Maintenance can be viewed as a "con" of home-ownership, but in reality, having the authority over maintenance can be a benefit. If the sink is leaking, you get to decide when to either fix it yourself or call someone else to come fix it without having to wait on a landlord's schedule to clear before any repairs are made or even addressed.

Are you ready buy a home of your own? Don't know where to start? Call us a call, and we will walk you through the process! 601-825-2698

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