Rent vs. Home Ownership
Updated: Jul 6, 2020
We all pay for housing, whether you lease or own. If you currently rent, have you stopped for a second to think about purchasing a home? There are so many benefits when you own property such as tax breaks, building equity, freedom, and stability. As stated in the U.S Tax Code, homeowners are allowed to write off property taxes, mortgage interest, and even costs involved in buying your home. When you own real estate you build equity ownership, in comparison to tossing away your money in rent that you will not see again. Properties tend to increase in value over time, creating real estate a secure investment. You are guaranteed the benefit of freedom to change up anything you want in the property and personalize it to create the home of your dreams! With interest rates at an all time low, market prices remaining stable, and loans qualifying participants with credit scores as low as 580, you could end your lease today and buy your future home!