1. 1. Taxes suck. Let your landlord worry about how to handle the tax write offs and tax benefits (less stress).
2. Pets: You don’t have to worry about pets (because you can’t have them).
3. Pride: No pride of ownership means you can save your pride for things like the Pride Parade or take a trip to the zoo to check out the lion’s pride instead.
4. Make new friends: (because you landlord will decide to sell for a profit forcing you to move at your expense)
5. Less chance of a house fire (many rentals don’t have a garage and since most house fires start in the garage there is less risk)
6. Impress your friends (many people associate higher price with higher quality, so since you typically pay more in rent than for your own house, it must be better, right?)
7. Save time and money (renters have taught me that by not watering the yard you save money and then the grass will die and you won’t have to waste time mowing it)
8. Humor (you can laugh at your friends if and when house values decline like they did last time – at least until you realize your rental payments offer a $0 return on investment).
9. Easier to furnish (most rentals have zero unique features your furniture will go with the plain white walls and beige carpet).
10. National Debt Relief: You are doing your part to help with the national debt since you are not able to claim the tax deductions associated with owning the same home.
I love rentals, that is why I own them myself. However, when you are ready to learn the main reasons you should buy a home, then put my 24 years of licensed real estate sales to work for you! I have taught first time home buyer classes for over 20 years so I am uniquely qualified to help you fire your landlord!
Jim Paulson, CRS, ePRO, GRI, Broker
Progressive Realty Corporation