5 Reasons Buying is Better than Renting

Are you debating between renting or buying a home in mid-Missouri? Our team of real estate agents in Eldon, MO know how important of a decision deciding to buy can be. While this is an exciting step in your life, it's something to think through. Below, Devine & Associates have provided some reasons why you should buy instead of rent.


1. Mortgage is Being Paid

Whether you own or rent, you are paying a mortgage payment. When a landlord charges rent, you are paying their mortgage payment - sometimes more with your monthly rent. You may as well be making your own mortgage payment and building equity in your home.

2. Invest in Your Property

When you make your monthly mortgage payments, a portion of each payment goes toward the equity of your home. This is a great way to make an investment and is a way of forced savings - in a sense. You are required to make your payments and along with that, you're earning equity on your property. Home values are trending upward which works in favor of making a purchase now and hopefully be able to sell your property in the future for more.

3. Make the Space Your Own

Owning your home gives you the creative ability to make your space your own. You can paint the walls any color you want, hang pictures up on the walls, and add unique features at any time. This is a great opportunity to put your unique style on your home.

4. Predictable Payments

When buying a home you know how much your monthly mortgage payment is upfront and for how many years it stays at the amount. With renting, you never know when the landlord will raise the monthly rent. You can budget more effectively with a set mortgage payment each month!

5. Tax Perks Available

There are some tax benefits to purchasing a home. You will be able to get a tax break at the end of a year if you purchase a home. It's a great way to get some deductibles come tax time!

Now that you know why you should buy a home near Eldon, MO instead of rent, you're ready start your home search! As experienced real estate agents in Eldon, we can help you find the perfect home to fit the wants and needs of your family. Give us a call today and we'll show you around available properties in your price range!



Where Your Best Interests and Our Best Efforts Meet!

                                                                                                                                                                      (573) 392-9900
1109 S Business Hwy 54., Eldon, MO 65026
Follow Us On...

Comments

Popular posts from this blog

Featured Property - Hurricane Dolly's Restaurant and Bar

Staging Your Home for a Summer Sale: Indoors

Unexpected Expenses to Prepare for When Buying for the First Time