BUYING: Down Payment + Closing Costs
RENTING: Security Deposit, Broker Fee, and/or Last Months Rent
BUYING: Monthly Mortgage Payments which Help to Pay-Off a Portion of the Home. ** The Interest Paid Can be used as a Deductable on the Buyer’s Income Tax Return
RENTING: Monthly Rental Payments which are NOT Put Towards the Ownership of a Home and are NOT Able to be used as a Deductable on the Renters Tax Return
BUYING: Annual Repair and Maintenance Costs
RENTING: Landlord Pays for Any Repair or Maintenance Costs
BUYING: Other Monthly Expenses (ater, sewer, electric, telephone, cable, internet, insurance, real estate taxes, etc)
RENTING: As a Tenant You May Pay None of these Expenses or Some but Not Including Insurance or Real Estate Taxes
Long time research and studies have shown that buying a home (with continued ownership) is more economically rewarding than renting one! Although the market is always changing, whether it is a buyer or sellers market for the moment, home prices will continue to rise with time. Therefore, buying a home will always be a benefit and will result in financial gain. For example if you purchased your home 15 or 20 years ago, today it is worth about double what you paid for it at that time.
Source of Data: http://www.census.gov/const/uspriceann.pdf
Call Netter Real Estate Today to Begin Your Shopping for the Purchase of a Home!
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(631) 661-5100
(800) 626-RELO
