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Renting vs. Owning

RENTING  VS. OWNING

There are many advantages to owning a home verses renting.  The following explains just some of the reasons.

1.    Financial Advantages. You control your payments!  On average, rental rates increase 6% per year.

2.    Tax Advantages!  Property taxes, interest, and closing costs are all tax deductible.

3.    Appreciation! Appreciation fluctuates from year to year.

4     Source of Savings!  Home ownership always has and continues to comprise the single largest source of savings for American households.  Homeowners build equity and can borrow against this equity.  Writing a rent check each month is the same as watching your hard earned money sail away!

5.    Pride in Ownership. Most people buy homes to have control over where they live. Although investment features are important, the psychological reasons for buying—the satisfaction of owning and freedom from paying rent—are at least as important.

6.    Leveraged Investment. Real estate is the only investment you can make where you don’t have to use your own money.  People borrow a great deal to buy a home, yet they receive the full benefits of price appreciation.  In the long run, investing in a home far outpaces inflation

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