Are you ready for yet one more blog post about if you can buy a home, you should? Have you read any of my previous posts about the benefits of owning a home versus renting a home? Probably you haven’t, so here it is again.
Control Your Future by Owning a Home
When you own a home you have control over your future. That’s because you’re paying a mortgage and that mortgage is helping you build equity in the house. Then, years down the road you have something. But you’re paying the landlord’s mortgage if you rent. And at year’s end all you have is a pile of cancelled checks.
Tax Benefits
When you own your home you’ll receive tax benefits. After all, you can deduct your mortgage interest and your real estate taxes from your income taxes. That can result in good-size savings. And your monthly payments, even with a minimal down payment, will probably be less than if you were to rent a similar home. And that’s without calculating the tax benefits.
Make the Home Yours
When you own, you are the one who will decide if and when you want to move. You don’t have to move because the landlord decided that the landlord wants to move in. Or maybe the landlord decides it’s time to sell.
If you want to make alterations to the property you can do that if you own the home. You cannot do that if you are renting, unless you get the landlord’s permission.
Family Stability
You’ll give your children a better sense of stability, knowing they will stay in the same neighborhood, have the same friends and go to the same schools.
Bottom Line
I don’t know what else I can say about the subject. I am probably beating it to death. But the bottom line is, if you’re going to stay in a home for more than 2 or 3 years, and if you have the down payment, and if you can get a mortgage, BUY NOW!
When you’re ready to buy your own home, call Bunny and Art Reiman – Realtors. We’ve helped hundreds of families buy their own home. Let us help you next.
Would you like to look at homes in other Monmouth County towns?