IF YOU PAY JUST $1,500.00 PER MONTH IN RENT, AT THE END OF FIVE YEARS YOU HAVE GIVEN YOUR LANDLORD $90,000.00!
SMART REASONS TO STOP PAYING RENT AND START OWNING!
INVESTMENT – Buying a home is really buying a lifetime investment. Every monthly payment you make increases the amount of your equity (ownership). Every home improvement increases the value of your equity. Just making monthly rent payments leaves you with nothing to show for the money you paid out each month.
TAX ADVANTAGE – The homeowner can deduct real estate property tax, some or all of the interest on his mortgage and the cost of property insurance plus if you operate a business office from your home you can take additional deductions.
STABILITY – When you own, with a fixed rate mortgage, you have the same payment month after month, year after year. Whereas, rents will increase as the cost of living rises.
SAVINGS – Your mortgage payment includes both interest and principle. As you pay more of your payment becomes principle (equity) and less becomes interest. Whereas, your rent payments will earn NO equity.
LEVERAGE – If your home increases in value, your equity increases, thereby increasing your borrowing power.
PRIDE – There is nothing like the feeling of accomplishment you get from owning your own home. It’s yours, and you worked hard to get it.