Advantages of Buying
- Your property can gain appreciation and equity.
- You are not dependent on a landlord to make needed repairs.
- Interest paid on the loan is tax deductible.
- No risk of eviction for reasons other than non-payment.
- Owning a home will give you a sense of security, stability and community.
- You are free to make changes to the decor and landscaping as you choose.
- With a fixed rate mortgage your monthly payments will never increase.
- Payments will end at the end of the mortgage term.
- Payments are resulting in a tangible asset.
Considerations for Buying
- You will be responsible for maintenance.
- You will be responsible for paying property taxes.
- Less mobility than renting.
- You can damage your credit by not paying your mortgage.
Advantages of Renting
- Little or no responsibility for maintenance of the property.
- Easier to move from one rental to another.
- No property taxes.
- Some utilities may be covered by your rent payment.
Considerations for Renting
- No equity will be built.
- No control over rent payment increase.
- Possibility of eviction for reasons other than non-payment.
- Bound by rules of your landlord or apartment complex.
- Limited in changing decor and landscaping.
- No tax benefits.
- Rent payments never result in a tangible asset.
- Rent payments never end.
- Possibility of loss of security deposit (typically one month's rent).
Finding A Realtor You Can Trust
Finding the right Real Estate Agent is crucial while searching for your home. It is important to have the right person working for you and in your best interest.
If you need help I can refer you to one of my trusted Real Estate Agents.
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