Paying rent for the rest of your life isn’t the American Dream — home ownership is! Pride of ownership, though, isn’t the only thing to be gained from buying a home. There’s a reason why real estate is such a lucrative market: owning a home pays you back tenfold.
As soon as you buy a home, your net worth increases with its equity. You’ll also instantly start to enjoy the ability to deduct the interest you pay on your mortgage, property taxes, and even up-front purchasing costs from your taxes. With the right home loan terms, you could end up paying less for your mortgage each month than you would on rent, and that savings will increase exponentially once your home is paid off. You won’t have to worry about fluctuating rent prices or having to move because your landlord decided to sell his/her property. And while you’re enjoying the luxury of living in your beautiful dream home, your property’s value will continue to appreciate, meaning you’ll likely end up with a home that’s worth more than you originally paid for it. Not too shabby.
Now the only question is, what are you waiting for? Stop being held back by your monthly rental fees and start investing your money in a home that will last for a lifetime.