I am often asked, what is the difference between buying and renting. The difference is huge. If you are renting, and would like more information on how you can benefit from home ownership, call Jeremy Williams of Keller Williams Realty NE, 281-387-7689.
Advantages of Buying a Home
1) When you buy a home, you will have a great tax write-off. Deducting mortgage interest, tax free profits in most cases, claim property taxes you pay as an income tax deduction, and in certain cases you can write off your moving expenses. Consult with an accountant since these can be based on income and other factors pertaining to your particular situation.
2) Your housing expense may never go up. Some of the only instances where you might see an increase in expenses is if you choose an adjustable rate loan or the property taxes increase.
3) You can use, decorate, make physical changes and enjoy your home as you see fit.
4) Home ownership is a great opportunity to build equity as your home appreciates in value over time.
5) When you own your home, you are not at the mercy of your landlord.
6) Home ownership is permanent as long as you make your mortgage payments and pay your taxes. It is not a temporary living arrangement.
Disadvantages of Renting a Home or an Apartment
1) You have no tax write-off.
2) Your rent payment is only temporarily set, and after the contract ends may be raised if you choose to renew.
3) When you rent, you always have to request permission for any changes made to the dwelling. Landlords typically do not like their properties being altered.
4) You can be evicted. The landlord could choose not to renew your lease.
5) When you rent, your living situation is always temporary.
Call today and let's talk about home ownership!
Information Provided By:
Jeremy Williams of Keller Williams Realty NE specializes in residential real estate in the northeast Houston area including KingwoodTX, Atascocita TX, Humble TX, Fall Creek, Summerwood, and Eagle Springs, and International properties. Whether buying or selling a home, see why clients have chosen to trust Jeremy with their real estate needs. To learn more about the real estate services Jeremy Williams of Keller Williams offers his clients and customers, visit http://www.williams4yourhome.com/ or read more at Jeremy's Active Rainblog. Utilize the searches below to see what is happening in your neighborhood, or search for your next dream home.
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