Stop Renting: Here Are 5 Reasons Why Buying a Home is Better
Choosing to buy or rent a home is a huge decision for people renting. Most find out that: Owning a home is worth it because it gives you a sense of security and stability that renting will never bring.
Did you know most renters do not have the opportunity to make decisions about long-term investments in their lives? They never see that appreciation over time, will increase their net worth. In fact, most homeowners capitalize their home’s equity, which accumulates over time. They also get to enjoy tax deductions on their monthly mortgage interest payments plus, other homeowner expenses that come in the form of deductions.
Paying off your home will also enable to retire more comfortably, knowing that one day... you may be living mortgage free with no more monthly payments due.
These are the Top 5 Reasons Why Buying a Home Is Better Than Renting:
1: Long-term, buying is always cheaper than renting
Rent is money that you will never get back. You are paying for a roof and that's it! When you are renting a home, you are making monthly payments for a property that you don’t even own...essentially, you are paying you're paying your landlord's mortgage. Worse of it, you are not building any equity. At end of the month, you pay your rent and your equity will always remain zero.
2: Buying a home is the quickest way to build wealth over time
Did you know that real estate properties have been known to increase its value over time or appreciate? There is no other asset available that can build wealth more consistently than real estate.Under normal circumstances, real estate may be the only thing that you may have available...that will help you build a comfortable nest egg for your future. When you are renting, you have hit the pause button of your financial independence.
We are passionate about you as a client, we will always protect your best interests just because it's the only way we do business day in and day out.
Today, we'll talk about Stop Renting: Here Are 5 Reasons Why Buying a Home is Better
3: Buying a home provides you with stability & peace of mind
Many homeowners find that privacy, peace, and stability of owning a home is beyond any amount of money you spend every month. You are paying for freedom to grow, You are paying for privacy that no one can break, You are paying for stability that will keep you in the right path, You are paying for peace comfort and satisfaction that you are a homeowner,
4: No landlord can kick you out....ever!
As a renter, you can face an unexpected eviction notice if your landlord suddenly decides to rent to his family members, or worse...he decides that he wants to sell the home. The only protection you may have is a negotiated lease...that will keep going up and up every time you renew it. Your rent will always be increased...time after time.
5: Unlike rent, a fixed mortgage will NOT go up, The payment remains the same for the life of the loan.
Fixed mortgage rates don't go up, even if we are in the middle of a high inflation period. A fixed rate is a fixed rate.Your monthly payments are equivalent to the amount of time you'll have to work every month to pay that amount. After 10, 20, and 30 years, that amount of time will be reduced to practically zero!
Deborah Davignon
My goal and mission for my business are to give the best service and education in the South Coast MA and RI areas, including Cape Cod. I enjoy helping families to buy the home they want and understand the process and the long-term expectations of homeownership.
