Independence From Renting

This 4th of July, declare your independence from renting!

“There is nothing like the feeling of freedom you get when you buy your first home,” says Grace Tirrito, Sales Associate at ERA Justin Realty, “Instead of paying your landlord rent, you’re essentially paying yourself.”

Here are 5 reasons why it’s better to own, than rent:

1. It’s an investment

The  average homeowner’s net worth is more than 44 times greater than the average renter’s net worth. Owning a home creates personal wealth. As you pay down your mortgage, your home is also appreciating in value. It gives you a better and safer return than investing in the stock market.

2. Tax Advantages

When you buy a home, you can write-off your property taxes and mortgage interest. “This not only means your housing costs are costing you less on an after-tax basis, but you’ll potentially get a much bigger refund from the IRS,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “When you rent, 100% of your monthly rental payment is made with your after-tax dollars and you get nothing back.”

3. Monthly Budget Predictability

When you rent, your landlord decides when your payment will go up, and you usually have no say over it. When  you have a mortgage, you know what your payment will be every month for years to come. Rent rates keep rising.

4. Control Over Improvements

When you own your own home, you can change anything you want, when you want it. No asking the landlord. Plus, any improvements you make increases the value of your home. That money goes into your pocket when you sell. Not your landlord’s. 

5. Sense of Security

“Buying a home gives you a sense of security you just don’t get through renting,” says Tirrito. “You’re not just putting a roof over your head. You’re putting down roots in a community, participating in its upkeep and providing for your family potentially for generations to come.”

If you’re ready to declare your independence from your landlord, an experienced real estate professional can help you achieve your dream of homeownership. Give Grace Tirrito or any of the knowledgeable agents at ERA Justin a call at 201-939-7500.