Buying vs. Renting

    Buying vs. Renting

    Feb 07, 2018

    In today's market, home buyers definitely have an edge over renters. Home prices and interest rates are at an all-time low. Of course, there are more reasons why buying has its advantages than just price.


    When you own your home, you enjoy the following advantages:

    • Sense of community, stability, and security
    • Free to change decor and landscaping
    • Not dependent on landlord to maintain property
    • Property has the opportunity to build equity
    • Tax savings

    With today's market, you could secure a home mortgage at an incredibly low rate, so owning a home is more affordable than ever!

    There are a few expenses you have to take over as part of owning a home, such as insurance, HOA fees, and utilities, but home ownership is still a cheaper option in most markets. Owning your home is still the ultimate American Dream.


    When you rent a home, you have little to no responsibility for maintenance. Also, if you have a job where you might have to move around, you have more mobility renting a home than with buying.

    However, you have no tax benefits, no equity built up, no control over rent increases, and the possibility of eviction when you rent.


    • Tax Breaks: You can deduct the interest you pay on your mortgage, your property taxes, and some other costs involved in buying a home.

    • Appreciation: Real estate has long-term, stable growth in value.

    • Equity: Mortgage payments let you build equity ownership interest in your home.

    • Predictability: Your fixed-mortgage payments won't rise over the years so your housing costs will remain the same.

    • Freedom: It's all yours! You can do whatever you want to your own home!

    • Stability: Remaining in one neighborhood or community for several years gives you peace of mind and offers a stable family life.