BUYING VS. RENTING >>>

For many, the benefits of buying a home outweigh the advantages of renting. With mortgage interest rates at historic lows and rents on the rise, now is an affordable time to finance a mortgage with a fixed monthly payment lower than rent.

If you plan to stay in your home for more than six years, buying a home could save you thousands of dollars over renting. And don’t forget about the noisy neighbors upstairs.

BUYING

TAX SAVINGS – Mortgage loan interest is
deducted from your state and federal income
taxes and a portion of your property taxes may also be deducted.

STABILITY – Fixed mortgage payments (principle and interest) will not change during the loan term whereas rent payments may increase annually.

BUILD EQUITY –Owning a home long term allows equity to build and thus your home investment to grow.

RENTING

FLEXIBILITY – Renting may be the preferred option for those planning or needing to make a move in less than six years.

LITTLE OR NO MAINTENANCE – Renters are often able to rely on landlords and property managers to pay for and make necessary home repairs.

UTILITIES MAY BE COVERED – Some utility expenses may be included in monthly rent payments.

Contact me today to realizing the benefits of home ownership.

Please consult a tax professional about your specific situation and the tax savings benefits of home ownership.