What are the advantages of buying a home over renting an appartment?

Question

I rent now looking to buy a house...

Answer 1

Equity is the first word that comes to mind, after that there's the freedom of not having to deal with landlords any more. Then there's color and taste, your choices for your place. Ahhh, the sheer joy of it can not be compared.
Then there's the loss of people who live on top of you or below you, you no longer have to tolerate their musical tastes, their stinky garlic flavored scents wafting through your walls.
Oh, the other thing is if you elect a fixed rate, you know what the mortgage will be every month so that's a stress relief. No more wondering if the landlord is going to increase rent.
Then there's the tax advantages. Write off time.
Then there's, the list continues but I won't. Good luck with the hunting, finding and purchase.
Another advantage is that in 30 years or less, you won't have to pay mortgage as the thing will be paid off and that, my friend, is wonderful.

Answer 2

Well, renting offers you no equity, no tax benefit, and no protection against regular rent increases. If you're paying rent, you are really just paying someone else's mortgage. When you are buying a home you are making an investment, which is the most important benefit. Glad I could help.

Answer 3

In renting, you always have to answer to a landlord, who may not be quick in resolving your complaints, such as backed up pipes, no hot water, roaches...

In purchasing, you control your own property. You get the tax advantages of writing off most of your mortgage payment (property taxes and interest) for nearly 5 years. Also, real estate usually appreciates in value, so if you choose to sell in 5 or more years, you may get that value in real dollars.

Answer 4

A lot of things. More money for you after a while. I like the options you have when you own property. House prices go up. If you become poorer you can re fiance too.

Answer 5

between the main severe question to respond to is: How severe is your relationship mutually with your female buddy, considering her wages would be a huge area in this image. There are different numbers that are significant in anwering this question, inclusive of month-to-month fee selection, expenses, expenses etc. you're able to be able to desire to contemplate taxes, water and gas in diverse seasons of the twelve months, "based the place stay"? i think of possessing a house is unquestionably considered one of the excellent investments somebody can do, in this super usa, which provides us such somewhat some opportunities. possessing a house will additionally furnish you with the possibility to deduct the interest paying on the loan, throughout tax season. that's a huge destroy for sources vendors. your place will enhance in fee with the aid of the years, therefor it relatively is greater than money interior the financial business enterprise. you additionally must pass to a seminar on "a thank you to purchase a house". There are significant issues to contemplate, inclusive of "pmi" well-known loan coverage, factors that the broking provider could desire to cost you, ultimate fees. a stable financial business enterprise could furnish you with stable solutions, yet constantly choose for a 2d and third opinion. you will then examine their suggestions. I desire you nicely.

Answer 6

tax deduction. mortgage interest is tax deductible - the interest is most of your payment for most of the years.

but you also take a lot more risk as an owner. you can have negative equity, floods, a prison built next door, etc etc.