Why Buying a Home May Make More Sense Than Renting
Should I rent or buy? I get asked this question ALOT. While the answer is different for everyone, there are some benefits to owning a home that you just don't get with renting. One that is not mentioned in the infographic below is the tax benefit to owning vs. renting. While paying a mortgage may cost you more month to month than renting, the overall tax benefit to owning may actually make your mortgage more affordable than you think. In addition to that, owning a home is one of the best ways to build generational wealth AND gives you, the homeowner, more power over your monthly living expenses than renting. For example, as a homeowner, you can add solar panels to your home to offset the cost of electricity, you can add insulation to your attic or install a pellet stove to help with heating costs. With renting, you do not have the power to take any real cost lowering measures to the home because you are not the owner. You are reliant on the landlord to do those things for you.
Read below to see what other reasons buying a home may make more sense than renting. If you are thinking of buying, but don't know where to start, please reach out! I always answer my phone and I'll always call you back.