Homeownership: Top 4 Reasons Why Buying is Better than Renting a Home

Posted by Lisa Treu on Monday, August 26, 2019 at 12:00 PM

When does Buying make sense?

Homeownership puts money in your pocket, not your landlord's.

There are many reasons that someone should consider buying instead of renting. In Palm Beach County alone, there are over 100,000 renters that would be better off if they purchased their home. Some of the reasons renters don't buy are not based upon fact and it can cost them thousands of dollars longer term. Top Reasons for Homeownership

1. Owning your own home vs. renting may lead to some great options, such as locking in your monthly housing expenses. You would be able to benefit from lower taxes since you can file for Homestead Exemption and have the Save our Homes savings.
   

2. Are you tired of white walls or decorator choices that you don't like? If you are a tenant that is just the way it is as you don't have the right to make changes. When you own, you can make it yours and create a home that you love.
   

3. Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather than that of your landlord. There is a reason why real estate has made most of the millionaires in the US.
   

4. There are many options to get financing with low or even no money down. Instead of paying first, last and security why not invest in your own home.