Advantages To Buying A Home Vs Renting

Dated: 06/09/2017

Views: 327

Been dreaming about owning your own home? Imagining the kids and dog running around in your large, fenced back yard? Wishing you had the freedom  to make changes or remodel to make your home your own? 

Image result for home clipartOften times people are unaware what the advantages are between purchasing a home and renting. Often they think renting is easier or they will never be able to save a large down payment for a home. However, a Real Estate agent can help you through the process (free for buyers) and there are also programs available now that allow you to purchase a home without coming up with a down payment. Even if you need help raising your credit score, there are professionals that can guide you  and give you tips at getting your score where it needs to be. Not only is home ownership easier than many people think, there are a few HUGE benefits you get when you put your money each month into your own mortgage (instead of for someone else.)


  1. TAX SAVINGS- Mortgage loan interest is deducted from your income taxes and a portion of your property tax may also be deducted.

  2. FIXED PAYMENT- Rent payments tend to go up regularly each year but when you have a home mortgage the payments stay the same throughout the duration of your loan (after several years that makes a huge difference in your monthly payments.)

  3. BUILD EQUITY- Using your money each month to pay your own mortgage has huge benefits. Each year your home appreciates in value which can be a significant amount of increase over time. When you decide to sell, you will often have a large amount of money in the bank (and you sure will be glad you decided to buy.) Buying a home is a valuable investment.

  4. PRIVACY AND CHOICES- Often times in a rental you have to worry about making noise or turning down your stereo. It is nice to have the space to live in your home and not worry about disturbing others. In addition, you can paint, make changes and do what you want to the property to make it your own!


Check out this Mortgage Calculator (below) to determine how much home you can afford. If you have any questions on no money down programs for home loans, or any other real estate questions, feel free to contact me for more details  Julie  (801) 230-3282

https://team101.com/mortgage-calculator/

Want to Advertise on this Site?

Latest Blog Posts

Zillows Estimates Not Quite Right

The Zillow’s comparative market analysis sometimes referred to as Zestimates, can be accurate for people curious to know what their home is worth. But most of the time they’re riddled with

Read More

Utah Is One Of The Best States

Did you know that Utah is ranked #3 for best state in the nation with regard to how well the states are performing for their citizens according to U.S News?It's a great time to purchase!

Read More

Buying Power

Did you know that a 1% increase in an interest rate can affect your buying power by about $20,000.  Are you on the fence about purchasing.  Rates are rising and so are home prices. 

Read More

5 Reasons To Love Using A Real Estate Professional

I have recently been working with several first time home buyers in  purchasing  their first home. Many people are a little nervous about the process and want to be sure they are

Read More