If you rent, you know that rents have been rising to inordinately high levels. Therefore, if you are paying high rent, you owe it to yourself to compare the costs of owning with the costs of renting. In many areas, it’s now less expensive to own a home than to rent an apartment. The major financial benefits of owning a home come with taking tax deductions for mortgage interest and property taxes. Some homeowners may also take tax deductions for home offices. In addition, each month’s mortgage payment increases your equity in your home while a rent check only increases your landlord’s equity. Lastly, the longer you stay in your home, the more you stand to benefit from appreciation.
This may be the ideal time for you to consider purchasing property. Take advantage of the low interest rates that are still available. You may find that owning is more advantageous, and less expensive than renting. To learn how home ownership could be the best option for you, reach us today. I have a twenty year successful history of assisting buyers in your community. You will benefit from our real estate knowledge and expertise.
HINT: Owning a home and paying a mortgage is like putting money in the bank that may someday be used to make major purchases, like paying for college.
Augusto Neno, Broker & Owner
Rosa Agency, Inc , 201-997-7860