There’s never been a better time to buy a home.Terry Riffe | October 19, 2015
The current demand for rental properties has created a deficit in the number of properties available, sending the costs of rent higher and higher. When you buy a home, you lock in today’s low interest rates for you mortgage. In buying a home and locking in your fixed interest rate, your house payment never changes.
While renting a home, you have no guaranteed monthly payment except for your rental agreement, which you will have to renew. This gives the landlord every opportunity to raise your rent. When you own your own home, you have guaranteed monthly payments for the entire time you own the home. This not only brings you stability, it also gives you piece of mind.
When you rent a home, you receive no tax benefits. Once you purchase your own home, the interest you pay on your home loan each month is tax deductible.
Once you own your own home, you are able to do any modification, changes and upgrades – all of which will benefit you personally. Whether in simple satisfaction of making your home exactly how you want it, or buy adding value to your home if you plan to sell it in the future. There are no long term benefits for you if you do any improvements to a rental property. As a renter, it may not even be possible for you to do any remodeling.
Are you ready to move out of your rental and into a home of your own? I’ll be with you every step of the way! Send me an email An@OrlanadoVacationRealty.com or give me a call 1(407)800-0888.