Renting vs. buying

While buying is certainly a more long-term commitment, owning a home has distinct advantages over renting.

1. Tax Advantages - Because mortgage interest and property taxes are tax deductible, owning your home may definitely reduce the amount of taxes you owe Uncle Sam. Check with your accountant or real estate agent for more details!
2. Investment Benefits - By building equity in your home, you are boosting your credit rating, and building a major asset in your financial portfolio. Down the road, you may be able to borrow against that equity to pay for college or home improvements or other items.
3. Great Market - Interest rates are the lowest in years, and the market is flooded with choices that are often priced lower with owners who are ready to sell.
4. Pride of Ownership - When you own your own home, you can personalize it any way you want. You can paint, remodel, add landscaping, or whatever you’d like to do! Plus, your home could come with a garage, a yard, and a laundry room, amenities not always found in rental properties!