ADVANTAGES OF BUYING VS. RENTING
With every payment you make on a mortgage, you increase your amount of equity in the home. This equity would help build wealth over time.
Owning a home has several tax advantages. Property taxes and mortgage interest are both tax deductible. Please consult your tax advisor for more details.
ABILITY TO RENOVATE
You don’t have freedom to change a rented space. But when you own a home, you make the decisions. Add a spare bedroom, remove a wall and anything else you can think of!
Depending on your lease agreement, your monthly payments may increase at the whim of your landlord when you rent. With a fixed-rate loan, your monthly mortgage payments will be consistent and stable, allowing you to plan financially for the future.