Advantages of Buying

The following are advantages of buying that one should consider:

1. There are instances in which the cost of ownership can be less than renting.
2. The buyer has control of the property and realizes that the acquisition of the home is a capital gain.
3. The buyer has “forced” savings, which can be important when the buyer pays down the balance by a substantial amount.
4. The buyer experiences tax advantages. Property taxes and interest can be itemized for tax deductions.
5. The buyer experiences personal freedom by being able to redecorate, remodel, or make improvements as they see fit.
6. The buyer experiences fewer restrictions. There are a fewer number of rules that the homebuyer must abide by, which includes restrictions as far as pets, children, and noise goes.
7. When mortgage payments are made on time, the homeowner can achieve a better credit rating.
8. Your home can make you money when you move as it can be rented at an amount higher than your mortgage making you money every month.
9. You can borrow against your homes equity or leverage the home and equity to buy a house or an investment property.

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