There are certain cases where renting is a necessity for the individual or family. On the other hand there are many people that are renting when they could be paying a mortgage instead. Individuals that rent can be surprised at how much less they would have to spend per month on a home they are buying rather than renting.
This brings us to benefit #1 of home ownership: Your money goes toward YOUR home and not to pay for someone else’s. This helps your credit and your home will produce equity for you for the future.
Benefit #2 of owning a home is tax benefits. The interest paid on a mortgage and most of the property taxes are deductible. Consulting a tax professional to guide you on this would be a wise thing to do.
Benefit #3 of owning versus renting you can customize the home however you like without having to get permission first or be denied because the homeowner won’t allow it.
Benefit #4 are the feelings of stability and comfort you have knowing that the home you are in is yours and that you have this place to come to everyday. Owning a home is a something to be PROUD of.
Benefit #5 of owning a home is having a solid investment. The value of your home will increase with every passing year unlike a vehicle that losses value almost immediately.
For Information on Homes Available in South Central VA Call State Wide Realty Co. at 434-392-6163 or visit our website at www.VaStateWideRealty.com.