Renting and Want to Know the Steps To Homeownership?
Not to be confused with a "rent to own" program, we help turn renters into homeowners.
Renting Isn't Always Cheaper Than Buying a Home. Home ownership maybe closer than you think. Fill out the form to get tips directly in your inbox and discover what you need to know and how you can prepare to purchase a home.
From Renting to Buying: Make the Move & Build Your Future.
Not to be confused with "rent to own", this information is offered to help renters realize the advantages to homeownership.
Renting has its merits and renting a home can offer a sense of flexibility and minimal maintenance responsibilities, but it may also come with a lack of control and uncertainty about your living situation. If you’re looking for stability and the opportunity to invest in your future, homeownership may be the answer.
Of course, the upfront costs of buying a home can be intimidating, but with the right planning and support, homeownership is within reach.
Still on the fence about whether to buy a house or continue renting? It's important to carefully consider all the factors and determine what is best for you and your financial situation. Here are some benefits of buying a home that you may not get from renting:
Home Ownership Helps Build Equity
When you rent a property, you are paying for the right to live in a home, but you are not building equity or making an investment. On the other hand, paying off a mortgage offers long-term financial benefit and investment opportunities.
Mortgage Payments Improve Your Credit
Rent payments do not typically contribute to your credit score, unlike mortgage payments which can help boost your credit. Additionally, owning a home may offer tax benefits such as the ability to deduct mortgage interest and property taxes, and exclude capital gains when you sell.
Owning A Home Allows For More Personalization Options
Landlords may instill rules and regulations that prevent you from making changes to fit your style or preferences, or they could even limit certain lifestyle choices like pet ownership. On the other hand, owning a home allows you to create a living space that is uniquely yours and to make changes and improvements as you see fit.
Owning a Home Helps Build Deeper Connections With Your Neighbors
If you're a renter, it can be difficult to form deep connections with your neighbors, especially if you are only living in the area for a short period of time. However, living in a tight-knit community provides a sense of belonging and support.
Make The Move From Renting To Owning
Renting a home offers flexibility and convenience since you don't have to worry about maintenance or home repairs. However, buying a home can be a long-term investment that provides you with a customizable living space, the opportunity to build credit and equity, and the chance to become more involved in your community.
If you are trying to decide whether renting or buying is the right choice for you, our team at Jaclyn Smith Properties can help. We have access to important real estate market resources and can assist you in determining which option is more financially viable for you. Contact us at 919.813.0123 to discuss your plans and explore your options.