Can’t Afford a Home? Think Again.. Reasons Why Owning A Home is Better (And Smarter) Than Renting

Rent Prices Continue to Rise

If you get a fixed-rate mortgage on a home purchase, your mortgage payment can never change. Unless a renter is in a rent-controlled building or neighborhood, their rent is at risk of rising every year.

Homeownership Builds Wealth

Owning a home is an investment many people can understand. As a home appreciates, it accrues faster than a stock might because you get the appreciation on the entire home’s value, not just the gain on your down payment cash invested.

Forced Savings Plan

When a homeowner is making a mortgage payment, a portion of that payment is paying the loan down each month, giving the owner more equity in their home.

Homeowners Receive Many Tax Benefits

Homeowners are allowed to deduct mortgage interest and property taxes when they file tax returns each year

Homes Can Be Customized

Owning your home means you can paint rooms any color you want, you can change your floors from carpet to wood, and you can put a new chandelier in the dining room without asking a landlord for permission. And sometimes, making these home improvements will increase the value of your property.

Published by Jessica Black

As a REALTOR® with Better Homes and Gardens Real Estate Metro Brokers in the Greater Atlanta area, I bring a wealth of knowledge on local neighborhoods, communities you are considering calling home. I strive to provide exceptional service every step of the way and an unrelenting commitment to understanding your needs and ensuring your satisfaction, so I can provide you with a real estate experience that exceeds your expectations.

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