LISA VANDERLOO, REALTOR®
  • Home
  • Property Search
  • Sellers
    • Seller Services
    • The Home Selling Process
    • What Is My House Worth?
    • Real Estate Photography
    • Video Marketing
  • Buyers
    • Buyer Services
    • The Home Buying Process
    • Why Use a Buyer's Agent?
  • Blog
    • For Buyers
    • For Sellers
    • Home Improvement
    • Finance
    • Local Events & Places
  • About
    • Meet Lisa
    • Contact
    • Testimonials

4 Reasons It's Better to Own Than Rent

3/17/2014

1 Comment

 
Picture
They say home ownership is the American dream. Do you desire to own your own home? Or maybe you are content with renting and less responsibility for maintenance? As long as you plan to stay in the same area for an extended period of time, owning makes a lot more sense than renting. Here are the top 4 reasons why paying a mortgage is better than paying rent.

1) Control- Your place, your rules. Within reason, of course. Want to get a new family pet? Go for it! Want to landscape your yard, put in a pool, add on another bedroom, or remodel your kitchen? These are some things that are out of the question in virtually any rental situation and can be as easy as applying for a building permit if you own your own home. ​

2) Pets- Renting with pets can be extremely difficult, especially with certain dog breeds that are commonly banned. While condos may still be restrictive, single family homes usually have the least amount of restrictions. It is important to check with the local municipality for rules on domestic pets. If there is any kind of a Home Owners Association, be sure to check for any additional rules.

3) Build Credit- There is no better way to build strong credit than to have a monthly mortgage and pay it on time. Most landlords do not report to credit bureaus, thus not building your credit, although they have the right to report if they want to.

​4) Investment- Home ownership over the long term is the way most people build wealth. Paying down your mortgage builds equity (the difference between your home's market value and how much you owe on your loan). While owning your home typically only provides 3%-5% annual returns on a long-term basis, this is still far better than paying out hundreds of thousands of dollars and not building any equity whatsoever. Home ownership is the way to go!
1 Comment
Oren Ruiz
1/28/2019 08:07:06 am

From my perspective, buying is better than renting. Because buying a property allows you to do anything with your property. The cost of mortgage remains the same, whereas, the cost of rent might hike. There are other tax benefits associated with renting. You will have to spend more, if you rent a property. Sometimes, renting may beat buying and sometimes, buying may win the battle. I think it can confuse a person easily. In my opinion, you should not be confused when making a real estate transaction. Better you ask a real estate agent to make a safe selection- http://www.martinlandis.com/ .

Reply



Leave a Reply.

    Lisa VanderLoo

    Great info on everything real estate.

    RSS Feed

    Categories

    All
    Fair Housing
    Finance
    Funny
    Home Buyers
    Home Improvement
    Home Sellers
    Local Places/Events
    Market Update
    Renting

    Archives

    December 2022
    June 2022
    October 2021
    May 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    April 2020
    August 2019
    May 2019
    April 2019
    September 2018
    January 2018
    September 2017
    August 2017
    April 2017
    March 2017
    February 2017
    December 2016
    September 2016
    June 2016
    February 2016
    January 2016
    July 2015
    May 2015
    February 2015
    January 2015
    November 2014
    October 2014
    August 2014
    July 2014
    June 2014
    April 2014
    March 2014
    February 2014
    March 2013
    August 2012

Picture
© COPYRIGHT 2020. ALL RIGHTS RESERVED.
  • Home
  • Property Search
  • Sellers
    • Seller Services
    • The Home Selling Process
    • What Is My House Worth?
    • Real Estate Photography
    • Video Marketing
  • Buyers
    • Buyer Services
    • The Home Buying Process
    • Why Use a Buyer's Agent?
  • Blog
    • For Buyers
    • For Sellers
    • Home Improvement
    • Finance
    • Local Events & Places
  • About
    • Meet Lisa
    • Contact
    • Testimonials