The choice between renting a house and to buy Navarre Real Estate is among the biggest financial decisions that many adults make.
Choosing to rent or buy can be very overwhelming. There are plenty of headlines in the news about home ownership. The most popular and beneficial story that has made recent headlines is that mortgage rates are at a historical low! The average 30 year mortgage rate has fallen. What exactly does this mean for a home buyer? Let’s look at some of the benefits of renting versus buying.
Owning a home is a good investment.
With every payment you make on your mortgage, you are building equity. A general rule of thumb – if you plan to live in your home for at least five to seven years, the expenses of purchasing that home are more likely to be offset by increased housing value and built equity. We recommend speaking with Chris Stapleton Realty to learn more about these benefits and how mortgages and equity work.
Owning a home means it is yours.
While in a rental home, painting and decorating can be discouraged but when you own your home you can make it your own! Be as colorful or simple as you wish. When it comes to home design, you’re in control. If the kitchen needs a touch up, you can feel free to tackle it yourself or choose a local contractor. The sky is the limit when you own your own home!
Owning a home comes with tax deductions.
Property taxes and mortgage interest are both eligible as tax deductions. Renters are unable to reap these benefits.
If you would like to learn more about home ownership or simply have some real estate questions, your Navarre Realtor will be happy to help! We will discuss all of your real estate needs! Whether you decide to buy now or in six months, we are here and ready to help!
Call your Navarre Real Estate Agency today! (850) 939-1099
Choosing the location of your new home can be a big challenge. Here is an interesting article – Do you know? What is the best state to live in?
