Renting vs. Buying

Advantages of Buying

• Make It Your Own 

  • One of the biggest reasons people want to buy a home is to have creative freedom to customize their home. From painted walls to kitchen remodels, owning a home allows you to make it fit your style and interests. ​

• Investment Rewards 

  • You could potentially earn a large profit by selling your home in the future. The value of your home is likely to go up over time and if you invest in remodels and improvements, you could make a large return on your home in a good market. ​

• Equity 

  • If the value of your home stays the same or increases, you will build equity with each mortgage payment. Borrowing against the equity can help you pay for home improvements if your entire mortgage is paid-off or you refinance your home.​

• Payment Stability 

  • With a fixed-rate mortgage, your monthly payments will be the same over the entire loan term. Although your mortgage statement will always be the same, your property taxes and insurance rates could fluctuate. ​