Trulia recently reported that buying is cheaper than renting in 100 of the largest metro regions by an average of 33.1%.   Surely this makes you stop and think, “why am I paying someone else’s mortgage when I could be a homeowner myself?”  Being a homeowner allows you to build long-term wealth because it is like a forced savings account.  By paying down your mortgage, you are building equity and basically paying yourself.  So, before signing another rental lease, take a look at some other benefits of owning a home:

  • Mortgage payments can be fixed while rents go up.
  • Equity in your home can provide future financial resources.
  • You can build wealth without paying capital gains.
  • You can become a landlord yourself and not only pay your mortgage but possibly make a profit.
  • You have the freedom to make a home your own with renovations and décor.
  • You can take advantage of tax breaks..
  • You will build closer ties to your community
  • Over the long run you will have greater net worth than if you were a renter.

With current mortgage interest rates still low, now is a great time to consider buying a home.  I can help you better understand your options and why owning is better than renting.  Contact me at (540) 320 - 1328 or at Desi Sowers and we can start your home search today!