Here’s some pros and cons to help you decide whether to rent or buy.
For many, homeownership is the American dream, and it is one of the most important steps many people will take in their lifetime.
If you are not sure whether to buy or rent, consider the pros and cons listed below to help you make your decision. Interest rates continue to remain very low, so it is a good idea to contact a mortgage lender to get an idea of the loan amount you would qualify for, and the interest rate you would pay. In addition, consult with a tax professional to determine financial implications to buying or renting.
|
Rent |
Buy |
|
No Interest payment deductions |
Excellent deductions for mortgage interest paid. |
|
Rental amount may increase at any time |
Mortgage payments could be fixed |
|
Landlord approval needed for any changes |
Decorate and make changes, without prior approval |
|
No capitalization; your money disappears forever |
The value of your property will probably increase in time |
|
Rental is temporary and often subject to 30 day’s notice |
Your house will become a home, not a temporary living situation; you are not at the mercy of a landlord |
If you decide to purchase a home, Southern Title would love to help you with your transaction. Our knowledgeable professionals are ready to meet your specific needs today, and we do it with a level of service and friendliness that is hart to beat in the industry.
Southern Title Holding Company, LLC, makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions.
Here’s some pros and cons to help you decide whether to rent or buy.
For many, homeownership is the American dream, and it is one of the most important steps many people will take in their lifetime.
If you are not sure whether to buy or rent, consider the pros and cons listed below to help you make your decision. Interest rates continue to remain very low, so it is a good idea to contact a mortgage lender to get an idea of the loan amount you would qualify for, and the interest rate you would pay. In addition, consult with a tax professional to determine financial implications to buying or renting.
|
Rent |
Buy |
|
No Interest payment deductions |
Excellent deductions for mortgage interest paid. |
|
Rental amount may increase at any time |
Mortgage payments could be fixed |
|
Landlord approval needed for any changes |
Decorate and make changes, without prior approval |
|
No capitalization; your money disappears forever |
The value of your property will probably increase in time |
|
Rental is temporary and often subject to 30 day’s notice |
Your house will become a home, not a temporary living situation; you are not at the mercy of a landlord |
If you decide to purchase a home, Southern Title would love to help you with your transaction. Our knowledgeable professionals are ready to meet your specific needs today, and we do it with a level of service and friendliness that is hart to beat in the industry.
Southern Title Holding Company, LLC, makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions.
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