Renting seems like the easy way out to most people. Although rent prices fluctuate each year, you only pay rent and utilities with a landlord at your fingertips to fix any and every problem, and the flexibility to pack up and venture out to the next city without any attachment. Yes, these are some perks that make it easy when you are young and finding your path. What about when you finally get that job you want to keep and can picture yourself staying there for some time?
This is a good time for looking into purchasing your first home. Owning a home throws out a lot of hassle you go through with renting, such as: application fees, pet rules, nonrefundable security deposits, decorating, and renovating.
Here are just a few of the major advantages to owning a home.
- You have a place you can call your own.
- You are investing in your future.
- Fixed Rate Mortgage = no more rent increases!
- This is your canvas and you can do what you want with it. Decorate and renovate however you picture your dream home.
- Sometimes major tax deductions are included.
- When you pay off a mortgage….you no longer have a bill to pay!
Not only do you have all of these advantages, but you are also saving money in the end. Over 5 years, buying has a $39,000 advantage over renting. It can be even greater depending on taxes and appreciation in your market.
