Buying vs. Renting

Top 10 Reasons Why You Should Buy Instead of Rent

  • You own it: With no landlord, you make the decisions
  • You deduct it: Mortgage interest, property taxes and some costs involved with buying a home can be deducted from federal income taxes.
  • Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re going to buy, this is the time to jump into the market.
  • You invest in it: Rent money is gone forever. Mortgage payments build home equity ownership interests.
  • You save for the future: Home equity is a ready-made savings plan. Sell it and you can make up to $250,000 cash without owing any federal income tax on the profit.
  • You can predict expenses: Unlike rent, a fixed-mortgage payment doesn’t get more expensive over time.
  • You pick it: Choose from different neighborhoods, styles and price ranges.
  • You create it: Decorate, renovate, get a pet or paint the walls whatever color you want – it belongs to you.
  • You live in a neighborhood: You and your neighbors take pride in the local schools, roads and more – and you work together to build a friendly community.
  • You spend money on yourself: When you buy a chandelier or hardwood floor or kitchen cabinet, you’re spending hard-earned money on yourself and building your equity at the same time.

Property information provided by the REALTOR'S® Association of Franklin and Gulf Counties, Inc.. IDX information is provided exclusively for consumers personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed accurate by the MLS.

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