When you begin to think about buying your first home, it’s essential for you to be confident in your decision. Following are just a few reasons to consider buying rather than renting.
When you invest in a home, it offers the possibility for appreciation in value. The equity becomes yours when you’re still paying off your mortgage. You even get to live in it while your investment matures. Although since the housing bubble burst, it will take longer to build equity – kinda like it used to be back in the 50’s-70’s.
Since both mortgage interest and property taxes are tax-deductible,at least for now, home ownership can save you a significant amount of money each and every year.
Planned housing costs
You decide how much you spend on your home, for big-ticket items like repairs and improvements. Unlike renters, homeowners with a fixed-rate mortgage know exactly what their monthly housing costs are and will be.
Improve your home “Your Way”
You choose which improvements to make on your property, such as a deck, kitchen remodel, or new paint. You don’t need to ask permission from a landlord!