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Three Excellent Reasons to Buy a Home So You Can Get out of the "Renting Rut"

By
Real Estate Agent with RE/MAX Town & Country

Renting a home is a good option for some, but buying a home just might be the best thing for you. When you rent a home, you send money to someone else every month in exchange for knowing that you can call on your landlord when the roof leaks, an appliance stops working or your bathroom faucet breaks. There are some big advantages to buying a house that will help you get out of your renting rut and focus more on your future.

Build Equity

Did you know that when you rent a home, you help someone else build equity? Any changes that you make with your landlord's approval puts money back in his or her pocket. Keeping the yard clean and taking care of routine maintenance builds equity in that property. When you buy a home of your own, you have the chance to build equity of your own, which you can use to obtain a loan later.

Save On Your Taxes

When you rent a house, you cannot deduct the money you spend on your taxes. Though some states will let you make a small deduction based on the total amount you spend in rent each month, you cannot make any deductions on your federal taxes. When you buy a home, you can save with a few different types of deductions.

The federal government lets you make a deduction if your home is worth more than what you currently owe on your taxes. If you purchased your first home, you can make a deduction in regards to your property taxes. You can also deduct money that you spend on some renovations and energy saving appliances.

Put Your Personal Touch On Things

As long as you continue renting, you live in a home that belongs to someone else. Your landlord has final say over what you do and do not do. This often means that you cannot make repairs or significant changes without seeking approval first.

Renting a home lets you put your personal touch on things. You can paint the walls any colors you want, rip out the carpet to add hardwood flooring or even make significant changes outside to turn your new home into your dream home.

Now that you know more about the benefits of buying a home and how that purchase can get you out of the rental rut you're in currently, turn to a real estate professional for assistance.

 

I hope this blog was helpful you to. I am here to assist you with finding your next home and to answer any questions that you might have. Call me directly at 678-357-5829 or if you would rather send me an email, SoldBySanna@kw.com. If you like this blog let me know! You can also “like” my Facebook page. I look forward to working with you or someone you know in 2016!

 

Sasanna Strozier - REALTOR®

 

 

 

 

Comments (4)

Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Sasanna, some great food for thought for renters to consider and there is just nothing like PRIDE in ownership which is manifested in personalized touches and constantly improving the property to protect your economic investment.  Home ownership builds stable communities.  

Make it a GREAT week at KW in Atlanta, Sasanna!

Apr 05, 2016 05:32 AM
Sasanna Strozier
RE/MAX Town & Country - Kennesaw, GA
CDPE, ABR, MRP - Your Local Realtor in Atlanta

Thank Bruce. I hope you have a great and productive week also!

Apr 05, 2016 06:08 AM
John Pusa
Glendale, CA

Sasanna Strozier These are excellent reasons to buy a home.

Apr 05, 2016 09:54 AM
Sasanna Strozier
RE/MAX Town & Country - Kennesaw, GA
CDPE, ABR, MRP - Your Local Realtor in Atlanta

Thank you John. I love educating my clients and potential clients. 

Apr 05, 2016 11:46 AM