5 Reasons Why BUYING is Better Than Renting

By Kyle Graves

Every realtor will tell you buying is better than renting. Are they saying that to just get a sale, or are they actually onto something? Is buying better than renting?

I think so… and here are five reasons why I believe that buying a house is actually better than renting:

• First, when you buy a home, you get to build equity
  Meaning the more you pay into your mortgage, the more valuable your house becomes, and you can eventually sell it at a profit. With renting, 100% of your money goes toward someone else’s mortgage.

   

   

• Second, owning a home gives you control over renovations and updates
  When renting, it’s up to the landlord to take care of all that. And usually, your landlord will do cost-effective updates, not quality updates. When you own a home, you’re able to make those important decisions that can increase your home’s value over time.

   

   

• Third, when you rent an apartment, your rent usually increases every year with no opportunity for negotiation
  But when you own a home, your mortgage payments remain fixed throughout the life of the loan, giving you stability and predictability in your finances.

   

   

• Fourth, owning a home gives you tax deductions on mortgage interest and property taxes
  These deductions lower your taxable income and can save thousands of dollars each year!

   

   

• Finally, owning a home gives you freedom
  You don’t have to worry about strict rules or potential eviction notices if there’s ever a dispute with your landlord or neighbor. Plus, if anyone wants to visit from out of town they have their own place!

From building equity to having predictability in finances, to more freedom and control over renovations and updates; it pays off in both financial and emotional ways to own over rent! Buying is better than renting… it’s a fact!