Owning a home Vs Renting a home

In most cases, owning is almost always better than renting. When you rent you just pay money out but you don’t have any return on your investment.
It’s like leasing a car without being able to write it off.

How many people reading this lease a car?

Well at least with the car you have a buy out option at the end and you get a new car every three years. But imagine just paying for a car for the rest of your life and never having the ability to own it. That’s what renting is like but without all the oil changes.

The main advantages of owning your own home are:

Financial Security
As your property appreciates in value and you pay down your loan, you will gain equity in your home.

Flexibility
You can decorate or renovate your home to meet your own personal tastes and build equity that can come in handy down the road.

Stability
The ability to come to a home that is your own. It’s where your house becoming your home and the spot where all your memories will be built in the future.

You can download the pdf of my pamphlet with two examples in it and see the monetary advantages for yourself. The savings are outstanding.

Click here to download examples of the advantage of buying a home VS renting in Adobe PDF format

The point I am trying to get across is that there is great value in owning a home. It creates wealth, flexibility and borrowing power. These are all things that people need so I encourage you to get a head start today.

If you are curious to find out how it will work for your specific situation try the Rent VS Buy Calculator in our Mortgage Tools section. If you would like to further investigate, contact our office, we’ll be glad to help.

Move on to our Closing Costs section and download our handy closing costs checklist.