Buying Vs. Renting
Deciding to own a home will be one of the most important financial decisions of your life. With the average rent cost rising each new year, choosing to buy can be very advantageous. Take a look at some of the benefits that buying has over renting.
- Equity and Investment - When you sign your rent check, it's your landlord that receives all the financial benefits of your home. Why let your landlord build equity with every check you write when you could be writing checks that build your own equity? When you own your own home, every mortgage payment you make, every flower you plant in your garden, every improvement you make to your house increases the value of your property.
- Tax Advantages - The cost of your mortgage loan interest can be deducted on your federal income taxes. Your real estate taxes are deductible as well. Do the math - this can add up to big savings at the end of the year.
- Financial Independence - Rent payments often go up every year, and sometimes even more frequently. Your monthly cost is subject to the whim of your landlord. When you buy your home, the principle and interest payments on your mortgage remain the same for the full term. Choosing to own your own home is the first big step towards financial freedom.
- Personal Satisfaction - Enjoy the freedom to turn your house into the home you've always wanted. There is immense personal satisfaction to be found in having a place that you can truly call your own.
Ultimately, your home is where you and your family come together. While there are certainly financial benefits to buying a house, a rental can feel just as comfortable and secure. Choosing to buy is a very important financial decision and it is absolutely necessary that you have as much good information as you can find before you make the choice.
If I can help you make that decision, or if you have any questions about Central Florida real estate, please feel free to contact me, or email me directly. You can also call or text me at (407) 421-1052!
Thanks,
-Lee
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