Renting vs Buying
WHY YOU SHOULD BUY
- Buy and begin building equity in your own home. Rates are at an all-time low, and we are confident there is a program that is perfect for you. The benefits are endless!
- You can’t build equity in an apartment or rental property, but by owning your home you can!
- Your rent payment is not tax deductible. By being a homeowner the interest portion of your mortgage payment could be tax deductible.
- Your rent usually increases when your lease is renewed, but with a fixed-rate mortgage, the principle & interest payments never go up.
- In addition to deducting mortgage interest, you may also be eligible to deduct costs paid at closing. As part of owning a home versus renting, you may be eligible for tax credits for improvements and other tax incentives. *Please consult your tax advisor.