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8 Reasons You Should Buy a Home Instead of Renting

Real Estate Agent 0548999

August 07, 2016 12:45 PM

8 Reasons You Should Buy a Home Instead of Renting(1)

Buying a home is one of the best investments you can make; yet, many people still decide to rent a home year after year. Before you think renting a home will save you money and is a better decision for you in the long run – make sure you check out these reason why it is in your best interest to buy a home instead of renting:

Paying your mortgage on time each month raises your credit score and can keep it over 700 points.
Home sale exclusion – a tax break for home owners on the profit of their home sale if they lived in the home for at least two of five years preceding the home sale.
See also: 5 Steps to sell your home FAST!
Home owners can use their home’s equity as a loan to pay off debt, pay for their kids’ college, build a pool, etc.
If you own a home, you can include it in your will and pass it down to your family.
No landlords! You can do whatever you want to a home once you buy it – paint it, remodel, tear down – whatever your heart desires.
Others also read: 5 Home Improvement Tips
Owning a home gives you a sense of permanency and belonging to the community, unlike the temporary feel of renting.
Over the long run, you will actually save money owning a home over renting. Renting rates typically go up 5%; whereas your mortgage will stay the same and your bill has an ending point. If you get trapped in renting, you may be renting forever.
Owning a home is a sure thing – you don’t need to worry about your landlord deciding to do something different with the property and kick you out.
You may also find helpful: 5 Hidden Home Buying Costs While buying a house may take a bit more investment in the beginning, the overall long-term payoff can’t be beat! Ready to take the plunge? Contact Stacey Perry to find your dream home!