Why Buy Instead Of Rent?

If you’re thinking of moving, one of the most important questions you’ll most likely ask yourself is, should I rent or buy? There are many reasons why renting a home might seem like the way to go, but there a plethora of reasons to buy a home instead.

Equity

When you are a renter, you pay rent to your landlord. That money goes straight to their mortgage, or adds equity to their bank account. When you own your own home and have a mortgage, you will be adding to your degree of ownership with every payment. When you buy your own home for sale in Reunion, you are paying money towards owning the home and your future there.

In Control Of Design

When you are a renter, you must be mindful of any interior decisions you make. Everything needs to be run past the landlord before any changes can be made. When you own a home, you are free to hang up pictures or art on the walls, paint them any color you want and even add a room to the house. A Reunion home for sale will give you the freedom to add a pool or a patio, have pets, and redecorate all you want.

Tax Deductions

As a homeowner, you can deduct mortgage interest in addition to your property taxes. Additionally, if you are a homeowner that works from home, you might be eligible to take deductions for your home office or utilities.

Maintenance Options

When you own your own home, you don’t have to rely on a landlord’s maintenance services. You can perform maintenance yourself, or hire a contractor. Buying a home is perfect for those that enjoy doing their own home improvement or maintenance projects.

Which Is Cheaper: Renting Or Buying?

When making the decision to rent or buy, something most people take into consideration is the cost. Which option will make the most out of their money? A homeowner will spend more money to buy a house than they’ll pay in rent, but they’ll have the value of the house. A major benefit of owning a home is appreciation, the rise in house’s value over time.

To schedule a consultation with the Luxury Orlando Real Estate team, please call us today at 407-705-7635 or submit our contact request form.