Buy vs Rent

Buy vs Rent

There are many advantages to owning a home, including:

SECURITY

A feeling of security that comes from owning a home and the knowledge that your home is a safeguard against inflation.


INVESTMENT

Payments on your mortgage loan mean you are acquiring a major possession. Paying rent means you will have a place to live but never own that property. When owning, the permanent improvements you make like planting a garden - all enhance your way of living as well as the value of your home.


TAX ADVANTAGE

Your real estate taxes and the interest on your mortgage are deductible from your income tax. When you rent, there are no tax advantages.


FINANCIAL INDEPENDENCE

Most people start on the road to financial independence through home ownership. Your principal and interest payments remain the same for the full term of your mortgage - predictable monthly payments add security. In contrast, while your rent usually goes up as the cost of living increases.


COMMUNITY

When purchasing a home, you become a part of the community of your choice. Home ownership offers special advantages that make life more enjoyable - backyard barbecues, large family gatherings during holidays, a home workshop, a chance to enjoy your family's companionship in the privacy of your own home.


CASH EQUITY

When you own a home, it is better than a savings account, because your home can appreciate to keep pace with inflation. You have an option to obtain an equity line of credit.

HOW MUCH HOME CAN YOU AFFORD?

Our handy calculators or a HomeServices Lending Mortgage Consultant can offer you valuable assistance in determining how much home you can afford and how much you can borrow.

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Have a Real Estate or Relocation question? Contact our Customer Service Team for an answer.
Contact Customer Service at 877-890-0050 or customercare@realtysouth.com.