Renting a home is a good option for some, but buying a home just might be the best thing for you.
When you rent a home, you send money to someone else every month in exchange for knowing that you can call on your landlord when the roof leaks, an appliance stops working or your bathroom faucet breaks.
But there are some big advantages to buying a house that will help you get out of your renting rut and focus more on your future.
You Can Build Equity
Did you know that when you rent a home, you help someone else build equity?
Any changes that you make with your landlord's approval puts money back in his or her pocket. Keeping the yard clean and taking care of routine maintenance builds equity in that property.
When you buy a home of your own, you have the chance to build equity of your own, which you can use to obtain a loan later.
Save On Your Taxes
When you rent a house, you cannot deduct the money you spend on your taxes. Though some states will let you make a small deduction based on the total amount you spend in rent each month, you cannot make any deductions on your federal taxes. When you buy a home, you can save with a few different types of deductions.
The federal government lets you take a deduction on the interest that you pay on your home mortgage loan. If you purchase your home, you can also make a deduction in regards to your property taxes. You can also deduct money that you spend on some renovations and energy saving appliances.
Put Your Personal Touch On Things
As long as you continue renting, you live in a home that belongs to someone else. Your landlord has final say over what you do and do not do. This often means that you cannot make repairs or significant changes without seeking approval first.
Owning a home lets you put your personal touch on things. You can paint the walls any colors you want, rip out the carpet to add hardwood flooring or even make significant changes outside to turn your new home into your dream home.
Now that you know more about the benefits of buying a home and how that purchase can get you out of the rental rut you're in currently, turn to a real estate professional for assistance.
About Wenatchee, WA Real Estate - Melissa & Kent Kiser REMAX Landmark
We are full time Realtors for over 27 years, we have successfully represented buyers, sellers and investors in the sale and purchase of thousands of properties. We believe our success can be attributed to our honesty, dedication, commitment and level of service we provide to our clients. We skillfully learn what our client is seeking to accomplish, and research the necessary information to provide the best clear cut strategy to move forward. Constant communication and feedback are vitally important during the Real Estate process and we clearly and precisely guide our clients through every step of the way. Our Priorities Are Simple…They’re Yours! We are partnered with RE/MAX Real Estate the only National Real Estate firm with the #1 visited website in the country. We Love Selling Real Estate and our enthusiasm shines through!
You can search the entire North Central Washington MLS on our website at www.NCWhomes.com Please give us a call and see what 27 years of successful Real Estate experience can do for you. We would love to meet with you and show you our “First Class” marketing program. We will discuss your needs and create an individual plan to help you obtain your real estate goals. Great exposure produces amazing results!
Buyer demand continues to outpace the supply of homes for sale
""I'm so thankful for Melissa she walked me through everything especially in this very stressful situation as buying a house. Even after I bought my house I have been able to contact her and ask her questions. Even has lent me tools to do small projects. I would recommend her to all my friends and family.""