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6 Reasons Owning Tops Renting

Monday, October 24, 2022   /   by Lauren Wilson

6 Reasons Owning Tops Renting

Build your dream home - One of the biggest advantages of owning a home is having the luxury to customize your living space completely. Not to mention that as life changes, families grow and tastes changes, owning a home will give you the flexibility to adapt your space to fit your lifestyle.

Tax deductions- There are several deductions for homeowners that may result in a higher tax return, including property tax deductions, private mortgage insurance deductions, vacation home tax deductions. A tax professional can further inform you on which deductions you may be eligible for.

Low interest rates- Interest rates are lower than they’ve been in previous years, and the rates are always changing. Now is a great time to take advantage of the current low rates before they potentially rise. Timing is everything when purchasing a home.

Opportunity for a second income- As a homeowner, you may have the opportunity to rent to others to gain a second source of income.

Fixed mortgage payments will not rise - When renting, there’s always a risk of monthly rent payments increasing depending on the landlord or property management company. Fixed mortgage rates are constant and will not result in surprise payment increases.

Stability- There is a sense of stability when living in a home versus renting. It’s more likely that a homeowner will stay in their home for much longer than the average renter would. This brings a sense of belonging and establishment.

Overall, buying a home is not as intimidating as it may seem. The final key to a successful purchase is having the right team of experienced professionals navigating you through the process. 

Earl Sanders Realty, Inc.
760 Lynnhaven Pkwy, Suite 100
Virginia Beach, VA 23452
Kelly Cordero
Branch Manager / Regional Manager
Mobile: 757-348-7053
Office: 757-689-8778
Email: kelly@cbmmortgage.com
NMLSR ID #282839
760 Lynnhaven Pkwy, Suite 101
Virginia Beach, VA 23452
Branch NMLS ID # 1743533
CBM Mortgage, Inc.– Company NMLS #282839 www.nmlsconsumeraccess.org
CBM Mortgage is an Equal Housing Lender

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