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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.

Happiness:
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.

Appreciation:
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.

Equity:
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.

Roots:
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.

Education:
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!