The Top 5 Reasons to Buy a House Instead of Renting

Dated: April 7 2022

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There’s an age-old debate on whether buying is better than renting or not. Some people might think that it’s always better to rent, but there are actually many more benefits to purchasing a home than you might think. Let's discuss the top five reasons why you should opt to buy a house!

1. Investment

Consider purchasing a house because it’s an investment. And when you purchase a home, you’re actually investing in your future. The value of your home will likely go up over time, and you can always sell it if you need to. On the other hand, you’re simply paying someone else's mortgage when you rent.

2. House Prices are Increasing

Buying a house is a great idea because house prices are currently on the rise with a 17% annual increase in 2021. By buying now, you’re getting in on a good investment because the longer you wait, the more expensive homes will become. So, grab the chance to buy while prices are still low.

3. Freedom

Buying a house gives you much more freedom than renting. When you own your home, you can paint the walls, renovate the kitchen, or even add an extension. However, when you're renting, you have to get permission from your landlord before making any changes.

4. Tax Breaks

Owning a home comes with many tax breaks. The government offers a variety of tax breaks for homeowners and you'll also get a lot of tax advantages such as mortgage interest deduction, state and local tax deduction, and home sales exclusion when you own your home!

5. Stability

Finally, the fifth reason to buy a house over renting one is stability. When you own your home, no one can tell you to leave. You won't have to worry about your landlord selling the property or kicking you out without fair warning. You'll have a stable place to live for as long as you want.

Start shopping for your dream home today!

There are many more reasons why you should buy a house instead of renting one. So, if you're looking to purchase a new home, feel free to contact Barry Newman at 847-921-1666. Let’s find the perfect home for you and your family today!

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Barry Newman

“My goal has always been to service my clients the same way that I would want to be taken care of if I was a buyer or seller.” Barry is in the top 3% in sales nationwide.He owned his own real esta....

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