Ditch the Landlord: Reasons to Buy Your Own Home

Wednesday, July 23, 2014

Everyone needs a roof over their head, but not everyone is interested in owning that roof. That’s why many people still rent these days--it’s still a more affordable option to buying your own house.
Still, every tenant, at one point or another, has wondered whether it’s finally time to become a full-fledged homeowner, especially with rental prices only increasing over the years. If you’re facing this conundrum, here are three great reasons why you should consider buying a home:
Freedom from Landlords
Does your landlord ban pets from your apartment building? Is he or she picky about which modifications you can do to your unit? If you own your home, you (and Fido!) no longer have to deal with these limitations.

Tax Breaks
Yes, buying a home will definitely be a big expense, but it can help you save money when tax season comes around. Homeowners can deduct the interest on mortgage, real estate property tax, and the cost of insurance, thereby lowering their total tax payments.

Inflation Proof
Inflation doesn’t just affect consumer goods, but rental prices, too. That’s why landlords have to increase the rent every so often. If you get a fixed-rate mortgage, however, you’ll be paying the same monthly installment from the time you move in to the day you get hold the deed in transferred to you.


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