Best Reasons to Buy Instead of Renting
With so many foreclosures and short sales in today's real estate market, many people are opting to rent. For many reasons renting can be the only option, however, there are many great deals out there and many great reasons why owning is still better than renting, if you can.
- Today mortgage rates are at an all time low. This is a great time to lock in a great rate!
- Currently home prices are down and there are many motivated sellers, as well as short sales and foreclosures.
- When you own, it's all yours to do with what you please. Decorate, update, landscape to your liking.
- You are not at the mercy of a landlord raising your rent each year, not doing timely repairs, or possibly getting into financial crisis.
- There are FHA loan options that will allow for lower down payments.
- Mortgage interest and property taxes can be deducted from federal taxes.
- Mortgage payments build equity, where rent money is gone.
- You get a better home, in most areas there are less available rentals than home for sale.
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