The universal question that we all discuss in and out of recessions is the timeless “Is it better to rent than buy?” The honest answer is that both options have their benefits, but it really boils down to each person’s circumstances? Do you plan to live in your home for a long period of time? Are you able to pay the upfront costs that are required when purchasing a home? We found a few compelling arguments in favor of the “buy side” that we felt were strong enough to share:
- When you pay off your mortgage, the home is yours! You completely eliminate the expense of housing once you have paid for your home.
- You stand a greater chance of the home appreciating over time, which means a win-win if and when you choose to sell your home. The money that you have paid towards your mortgage, taxes and maintenance over time will essentially pay you back.
- As a homeowner, you have access to tax credits that renters do not, i.e. Federal Tax Credits.
- When you own a home and consistently make your monthly loan payments on time, it shows other lenders that you are a good and qualified borrower, also displaying that the risk of you defaulting on a loan is very low. This is extremely helpful when life happens: college loans, car loans, etc.
- You actually have the freedom to create the home that YOU want. How great is that? You can design your own home, select from the endless options of countertops, fixtures, flooring and so much more. You get to choose how the lawn is designed with landscaping and your favorite flowers. Want to add a deck to the side of the house? No problem, you can do that as a homeowner!
If you find yourself in the middle of the debate and not really sure which way to go, the Bunting Construction Team is always happy to help. Our professional sales team is at the ready to answer questions and help guide you through the decision process. Call today to schedule your appointment! Our models here at Lighthouse Lakes are open daily from 10am – 5pm. We look forward to seeing you soon!