Why Owning a home is preferable to Renting

Regardless of the financial crisis that began in 2008, owning a home is still better than renting. For just one,
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purchasing a house is a great deal cheaper in the end than renting even while you build equity of your. When

you're renting, you have effect increasing the equity of one's landlord when you pay his mortgage. For

every amortization you make by yourself mortgage to acquire a home, your equity increases even though the

worth of your home also apprreciates. Depending on how much equity youve built, it is possible to borrow

against said equity for those who have major financial needs. Rent however is down payment the drain.

Using the markets volatility, interest rates may either increase or down. A boost in rates of interest won'

longer affect you but when interest rates fall, you can always make application for a refinancing of your home loan
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at lower interest rates that will mean lower amortization payment. Rent, however will increase but

seldom or even never decrease.

Another reason why homeownership surpasses renting is the incentive provided by the US government

by owners such as tax credits for property taxes and interests. You can also submit an application for tax

exemption for capital gains up to a specific amount when you sell your home. If you are working from

home, you may also include as tax break utilities and office rent for your home business.

In addition to the financial features of proudly owning as against renting, another reason why why its

easier to own than rent is the creative freedom it affords. Should you own your house it is possible to decorate,

renovate, and improve it for your hearts content which you'll never do if youre only renting. You also

have a personal choice and control regarding how to maintain it.