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Top 5 Reasons To Choose A Lot To Own More Than Rent!

 

Although we need our so-called hats to tie up and connect with our home, there are many options and alternatives on how to make a choice, whether to keep renting or buying, and owning their own! Although financial considerations etc. are obvious factors, this article will highlight 5 other key factors, both involved and related, why many choose to buy rather than rent! Remember, however, that each of us has certain personal priorities, a comfort zone, which may or may not be real, and/or service, or action, against our interests! With that in mind, this article will attempt, briefly, to review, review, and discuss these five considerations, and why they make such a big difference in an individual's approach and associated actions.

1. The American Dream: Many believe/believe that owning a home is an essential component of the so-called American Dream, and they want to claim their share of this perceived blessing! When we own our monthly payments and fees, though often higher than when renting, instead of going to the landlord etc., we collect the equity, and for a large part of the public, the value of his house, which is his only financial asset - the greatest!

2. Pride of ownership: beware of the dangers of focusing, concentrating, and following the neighbours! Many seem to want, more often than not, the so-called bragging rights and home ownership, to show off, even if, perhaps, it means more stress and less - a higher degree of happiness and contentment, in the long run, to buy! However, that pride of ownership is often a major and important factor!

3. Equity vs. Barefoot Spending: When we rent, we are not earning any financial gain after years of renting and renting! Even if some are not equipped, for the responsibilities, etc., for home ownership, many first time buyers, focus on the potential capital gains, of their main asset! However, it is also important to consider the risks of trying to market - weather,/or house flipping, etc!

 

 

4. Tax Benefits: Many tax benefits are associated with owning a home. These include deductions, mortgage interest paid, as well as property taxes, from an individual's gross income, in determining net income, for tax reporting purposes, etc.

5. Customizable: When you rent, dwell, in a place, owned by someone else, and no matter how hard you try to own it, only when you own it, it is - customizable, living conditions and facilities to meet your personal needs, priorities, perceptions and/or situations / Changes your life.

Over 15 years later, as a licensed real estate salesperson in upstate New York, I've seen people buy homes for good reasons, and others based on sentimental considerations! Be prepared and go wisely!