Friday, July 22, 2005

 

Comparing buying vs. renting

“Should I sign another lease or take the plunge and buy a place I can really call home?”

Believe it or not, millions of Americans ask the same question every day, according to Gary Marshall, broker at Assist 2 Sell Buyer & Seller Realty Center.

Before you buy a home you need to compare the advantages and disadvantages of home ownership compared to renting.

Here are some disadvantages to renting:

• Subject to rent increases every year.

• Can’t decorate and paint with out landlord approval.

• Apartments can be small, cramped, and noisy neighbors can be a nuisance.

• No pride in ownership.

• No tax advantages.

• You’ll never have your apartment paid for.

However, if you are subject to being transferred on the job or move a lot, have an unstable work situation or don’t want yard or maintenance issues, then renting may be for you. Buying is not always the best thing to do.

Here are some advantages to home ownership:

• Interest on your mortgage payment is a tax write-off.

• Great investment. As your home appreciates in value, the equity in your home increases as does your net worth.

• You can sell your home and keep all the profits tax free. Certain conditions apply.

• Monthly payments that stay the same.

• Pride in ownership, and the freedom to change your colors & style and to decorate creatively to suite your needs.

• Sense of community.

• The American Dream: to have your own home!

Buying a home is one of the biggest financial decisions you’ll ever make. But rest assured that buying a home is also one of the wisest decisions you’ll ever make.

To make an intelligent decision on what is best for you call Assist 2 Sell at 770-487-9195 and ask for their free report: “Rent vs. own — What’s right for me?” Assist 2 Sell will get the report right out to you with no cost or obligation.