Owning a home is still a smarter investment than renting. When the economy spiraled downward and home values followed—just not in Bryan-College Station—many people shied away from home ownership and opted for renting instead. There are many reasons why there are still far more advantages to owning a home than renting, even in this economy:
1. A mortgage payment is an investment. Rent is an expense.
Paying rent will give you no return. Your monthly mortgage is building equity in an investment.
2. Ownership has tax benefits.
You still enjoy deductions for mortgage interest, property tax, and home improvements. Renting provides none.
3. A home gains value.
In spite of the current situation, property values will increase. A rental property only gains value for the landlord.
Owning a home gives you the freedom to decorate, to landscape, and to live in your own space. A renter needs to ask for permission.
Look at your lifestyle and consider your future goals. Home prices and interest rates make buying a home more affordable than ever. When you add in the other advantages, can you really afford not to buy a home right now? Talk to us at Stylecraft Builders and we can help you find the right home and make it as easy as possible to make renting a thing of the past.