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Offered by Innovative Real Estate Group

With the rising costs of rent in the area and the Seller’s market in the residential sales world, it’s hard to know what is better! The fact is that now is still an amazing time to buy with extremely low interest rates and the holiday season approaching! In most situations your house payment will be lower than your monthly rent! Here are some other advantages:

ADVANTAGES OF BUYING

Tax Benefits: All interest paid on a mortgage is deductible for state and federal income tax purposes. State and local property taxes are also deductible.

Stable Housing Costs: When a purchaser takes out a 30-year fixed rate mortgage, the mortgage payment will typically stay about the same for the life of the loan. Taxes and insurance may change, but the principal+interest payment will not even if interest rates go up.

Investment Appreciation: Historically, homes have appreciated at an average rate of about 5% per year, although some years can be more and others less. And of course this figure varies from market to market.

Equity: When a homeowner pays rent, the money is gone, never to be seen again. But the money paid into a mortgage builds equity the longer a homeowner stays in the home.

Lifestyle Benefits: Homeowners experience greater freedom and privacy than their renting counterparts. A homeowner is free to change and improve his home without restrictions from a landlord. There is also usually more privacy for homeowners, since a landlord does not have access to enter the property for inspections or maintenance.

If you would like to know more about the advantages of owning a home or to find out how much you can qualify for, please reach out to Innovative Real Estate Group and one of our Agents will be happy to assist you with the process.

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Innovative Real Estate Group