MLS 206893The housing market is on the mend in many parts of the country, but media reports about falling prices and foreclosures may still be making you hesitate before taking the plunge and buying a new home. The truth is this: There's never been a better time to buy a home.

Low interest rates, a great supply of houses from which to choose, and motivated sellers are just a few of the reasons why now is a great time to buy. But there are many other advantages to owning a home, rather than renting. Here are just a few:

 

  • The potential to build equity. Sure, there are still reports of falling prices in some parts of the nation. But, in general and over time, you are likely to build equity in your new home. Plus, if you stay in your house long enough, you will ultimately pay off your mortgage and own it outright.
  • Tax savings. For many, the interest on a home mortgage, and real estate property taxes, are tax deductable. Rent is not. Check with your financial advisor for more information.
  • Control. Want to remodel your home, repaint the exterior or plant some flowers? If you own your own home, you are free to do so, subject only to local zoning ordinances and homeowners association or condominium rules. If you rent, you cannot make these changes unless the landlord agrees.
  • Stable housing costs. If you have a fixed rate mortgage, your principal and interest are fixed, and your payments are predictable. But a landlord can raise your rent.
  • Pride of ownership. If you purchase a house, it's yours! To many, owning a home is the very epitome of the American dream. And, with a sense of permanence, you will establish roots in your community.

Would you like to learn more about the advantages of home ownership or take advantage of today's opportunities? Give me a call today to learn about available homes in your area.

 

(Information provided by Century 21)

 
This post has been included in Georgia Real Estate News

3 Comments on Five Reasons Why Owning a Home is Better Than Renting

JAN
24
2011
2 Featured Posts Outside Blog Called Shot Master

Hi Kim, also you get to stay in your home indefinitely as long as you make your payments.  I had clients sign a lease and have their landlord tell them they had to get out only a few months into the lease.  Obviously, the landlord was in the wrong, but that kind of stress can only occur in a rental.
12:08pm • #1
183,328 Points Called Shot Master
I know the mantra has been throughout my life that it is always better to own a home. The biggest reason was always the financial stability and growing equity. But in these uncertain times, would you guarantee that next year will be better? Unfortunately, only time will tell, but my money is on the fact that the real housing recovery is still years away.
12:18pm • #2
FEB
11
2011
114,265 Points 3 Featured Posts Localism Sponsor

Hi Rosario, that has been a big problem in our area as well- renters signing leases not knowing the home was going into foreclosure.  Thanks for your comment!

Hi Bill, Thanks for your comment also and while yes it will be a slow recovery- the deals in our area are phenomenal so still a great time to be a homebuyer!    
1:35pm • #3


What does the graphic say?
Leave a response…

(optional)
Spam Prevention: