McDermott Realty

Buy vs. Rent


Benefits of Home Buying vs. Renting


The benefits of buying a home versus renting in Jacksonville, Florida can be trememdous. Below, we will outline six key benefits of home ownership for you to consider.

The feelings of owning your own home is unmatched. Since the home is yours, you can fix it up, make it your own, or plant a tree if you want. Doesn’t that sound exciting?!

Tax Savings:
Uncle Sam will reward you for owning a home. The government rewards home owners by providing excellent tax benefits. For example, the interest paid on your mortgage and other home-related expenses can generally be deducted from your income.

Home values have a well documented history of going up over time. This increase in value becomes equity you can benefit from when you refinance or sell your house.

Renting has often been compared to paying 100% interest but when you own a home and a mortgage is in place, a portion of your payment goes to the principal. This builds your equity and acts as a savings account.

People who own rather than rent stay in their homes four times longer. This provides an opportunity to get to know your neighbors and connect with your local community.

Research shows children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.


Interested in learning more about becoming a home buyer?
Contact us below and allow McDermott Realty to Guide you to Home!