BUY vs RENT
Moving from owner to renter is easier than people tend to believe. Having a home you can call your own is a great personal satisfaction. Here are a few reasons why owning can be convenient for you:
- Over the years, homeowners have the opportunity to build equity and receive a return on their investment.
- Homeowners can borrow against their equity, or turn it into funds when they sell their property.
- Your real estate taxes and the interest on your mortgage are deductible from your income tax.(consult your tax advisor or legal expert)
- Being a home-owner also gives you security unlike renting, a homeowner’s fixed-rate principal and interest, payments cannot increase.
- Payments on your mortgage loan mean you are acquiring a major possession; instead of rent you own more and more.
- Homeowners can also make renovations that reflect their personal styles and possibly raise the value of their homes.
Homeownership offers special advantages that makes life more enjoyable - backyard barbecues, large family gatherings during holidays, a home workshop, a chance to enjoy your family’s companionship in the privacy of your own home.
