Friday, April 13, 2012

Owning vs. Renting : The Move to Homeownership


The high demand for rental property has caused the cost of renting a home to rise. According to economists, rental rates are projected to grow 6.1% on average in 2012, and then grow higher and higher in the following years. But when you own a home, and lock in today’s low fixed rate, your mortgage payment will stay right where it is from the beginning. So while rents will keep going up…and up…and up…the cost of owning a new home of your own will remain stable.

"Buying a first home can be a rewarding and gratifying experience, not only emotionally, but economically."

Here’s a few reasons why it’s such a smart move:

        Owning                        vs.                         Renting                    
- Stability in monthly payment              - NO stability in monthly payment
- Opportunity for tax benefits                - NO tax benefits
- Pride of ownership                              - NO pride of ownership
- Potential for return on investment      - NO return on your investment
- Building equity in your property,         - NO equity
   not your landlord’s                             - NO remodeling/ability to add personal touches
- Investing in your future 
- Freedom to remodel and add your personal touches




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