Here’s why it’s so much better to buy a home than to rent one.
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There are distinct advantages to homeownership over renting.
When you rent a home, you’re increasing the landlord’s wealth, not your own. You’re also subject to the ever-increasing rents. Since 1990, rents have steadily risen. A home that rented for $400 per month in 1990 is now renting for $1,200 per month. As a renter, you also don’t get to take advantage of price appreciation.
“When you rent a home, you’re increasing the landlord’s wealth, not your own.”
As a homeowner, you’re building your own wealth and benefit directly from home appreciation. You’ll also have the same monthly house payment year after year. Additionally, if you’ve owned your home for at least two years out of at least five years that you’ve occupied it as your primary residence, when you sell, it’s tax-free! You won’t be taxed on all the appreciation it acquired while you lived there. You can do whatever you want with that money; you don’t even need to roll it into another home.
If you’re considering buying a home, please reach out to us via phone or email. We would love to show you a smooth road to homeownership. Check out our website if you’d like more information about us, what we can do for you, and even to check out current homes for sale.