Owning a Home vs. Renting..
Updated: Jan 30
Advantages of Home Ownership
EQUITY - You can't build equity in an apartment or rental property. In your own home you can!
TAX DEDUCTION - Your rent payment is not tax deductible. The interest portion of your mortgage payment could be tax deductible (check with your tax advisor). PRIVACY - Your apartment shares the ceiling, walls and/or floor. In a single family home, you have privacy! FIXED PAYMENT - Your rent almost always increases when your lease is renewed. With a fixed-rate mortgage, the principal & interest payments never go up!PRIDE - An apartment can feel only like a place to stay. Owning your own home give you pride of ownership!