Rent vs. Buy

Paying Rent is just paying someone else's Mortgage

The American Dream

Decades after the phrase "the American dream" was coined, home ownership is still a meaningful goal for many individuals and families. Buying a home is considered to be a wise investment by many because real estate typically increases in value over time. And, as the years go by, you can build equity, which you can possibly borrow against. Homeowners can receive tax benefits that renters don't, because interest paid on a home mortgage may be tax deductible. Please consult your advisor for information. Finally, there's the personal satisfaction of having a home you can call your own to share and enjoy with family and friends.

About 75% of non-homeowners in the United States consider home ownership as part of their American Dream and plan to buy eventually.

Why buying a Home
» You make a monthly mortgage payment, build equity and wealth
» Your monthly payment is locked in
» Your mortgage payments are like a savings account that accumulates equity
» Your interest and property taxes are tax deductible
» Your house increases in value over time
» You have a freedom to costumize your linving space and call it your own
» Interest rates are still low

Downsides of renting a Home

You build your landlords wealth
Your monthly payment is likely to increase
You may be limited in what you can customize in your home
You have to move to another place when the lease is up

Getting ready to buy