There are a lot of situations in which renting might be the best option for you and your family. Renting can be great if you are unsure you want to settle down in a particular area or you enjoy relinquishing the responsibility of maintenance. However, if you have the opportunity to consider buying and owning a home, it could yield many benefits for your future!
Owning A Home Helps You Build Equity
When you pay your rent monthly, you are not working towards owning your home. But monthly payments on your mortgage will put you one step closer to owning a home and gaining value from such a large asset. This opportunity to build equity is the greatest benefit that comes along with buying versus renting! One day you could be looking at a home that is completely yours!
Renting Isn’t Helping You Save Money In The Long Term
Did you know home owners receive valuable tax benefits? You can take advantage of tax breaks and other benefits that will save you money! Renters do not receive such benefits and are prone to rising rent prices. Thus, not only will you be missing out on the opportunity to save money, you will be at the mercy of landlords.
If you want to save money in the long term, then consider buying! You’ll be happy that you’re saving money, benefitting in the future, and able to control your payments.
But What About the Added Expense?
Owning a home is certainly going to come with greater responsibility. You’ll have to be accountable with maintaining your home and fixing any issues. In addition, you’ll have to purchase home insurance and pay real estate taxes. In the end the benefits of freedom, security, and stability will outweigh the total costs. You and your family can benefit from everything buying has to offer!
Your Next Steps
The best choice to make is to reach out to a licensed and experienced Realtor who can provide you complimentary information about your buying options. You may qualify for more than you thought and can make your dream of purchasing a home a reality. Stop losing out on money and security by renting!
Contact your local real estate agents at the Michelle Chase Team. Named one of America’s Top 100 Realtors, Michelle Chase will be able to guide you through the entire purchasing process. The choice is clear when buying real estate in Apopka! Contact us today for a free consultation!