Homes Your Current Rent Payment Can Buy

Homes for Sale Around $800/month

Homes for Sale Around $1,000/month

Homes for Sale Around $1,250/month

Homes for Sale Around $1,500/month

On this episode of 

WHO WILL WIN? 

Tenant or Landlord

Buying vs Renting

If you're going to be paying someone's mortgage, wouldn't you rather it be your own, instead of your landlord's? 

Let the games begin!

So, you’re ready to get out of the rent race and buy a home of your own. There are many advantages of homeownership.

While buying isn’t right for every person or for every life stage or circumstance, there are several perks of homeownership that tend to stay stable over time.

These include building long-term equity, the comfort and pride that can be associated with owning your own home, and an overall lower monthly cost.

If you’re considering getting out of the rent game and into homeownership, here are a few advantages that may be on your horizon: 

Advantages of Buying Over Renting

1. Net Worth

According to an NAR study, the net worth of a home owner is on average 41 times higher than that of a renter.  

Being a homeowner means building equity over time and comes with tax incentives and a fixed monthly mortgage payment that also acts as a forced savings plan, whereas rent payments – as almost every renter could tell you today – continue to increase faster than income grows.

2. Security

Homeownership is more than just a financial transaction; it’s an act of putting down roots and establishing a lifestyle in a community you feel connected to. With renting, you have no control over whether the cost of rent goes up, pricing you out of your residence, or whether the property owner sells your apartment or house. With homeownership, you’re in the driver’s seat. You can establish a budget to account for your mortgage payment and can feel comfortable knowing that your home will remain yours.

3. Privacy

If you rent in an apartment building or a condo, there’s a chance you share walls, ceilings or floors with noisy neighbors. Or maybe you want to be noisy but have to keep the volume down so as not to disturb your neighbors. Either way, homeownership is a preferable option if you want to turn up your music, enjoy some quiet time or if you value your living space as a private sanctuary.

4. Customization

Want to do a major remodeling project on a bathroom or kitchen, or even just want to paint the living room a new color? Ready to add a garage or plant your favorite veggies in the yard? With homeownership, those decisions are yours to make, and you can customize and modify your home in any way you see fit, assuming you adhere to local building codes and ordinances.

With renting, you often don’t have the option to make the place you live truly yours, or if you do, you will need to gain permission from the landlord, and often agree to return the property to its original state at the end of your lease. With homeownership, your house is exactly that: your own. 

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