Many renters still dream of owning a home. There are responsibilities and maintenance that come along with homeownership yet there are many rewards as well. A home may be a great investment for the future.
Here are some of the advantages that come along with owning a home versus renting.
- Owning your own home may be cheaper than your current rent payment.
- Your monthly payments can be relatively stable if you choose a fixed interest rate. While renting, your landlord can increase the rent.
- With owning your home, you can remodel, decorate or make improvements as needed. You can choose paint colors, change our the carpeting or flooring, and update the cabinetry. You can customize the space while adding value to your home.
- You can change the landscaping and grounds to reflect your personal taste. You can add flower beds, gardens and even waterfalls and rock gardens.
- You may have less restrictions regarding the number of pets, the amount of parking space, the use of a yard, the maximum amount of occupants,…etc. Many rentals have strict rules, regulations and restrictions in place.
- You may experience tax advantages such as having your property taxes and interest itemized for tax deductions.
- You may achieve a better credit rating by having a mortgage and paying it on time.
- Your wealth may increase as you gain more equity in your home.
Let me help make your dream of homeownership come true. Contact me today! 727-507-1800