Why You Should Buy Instead of Rent

 

Though it depends upon your individual financial and personal living requirements, buying a home has many advantages over renting. For those with a stable financial situation who know they are likely to live in the same place for a number of years, you'll find many benefits to purchasing a home.

Building Value

  1. While the money you pay to rent every month will never benefit you again, the payments you make on a home build equity and represent a gain to your net worth and the formation of a valuable inheritance.

Privacy

  1. Owning your own home means privacy from landlords (who, in most states, can legally enter your home or authorize others to do so).

Freedom

  1. Those living in a home they own are free from rules regarding their conduct while living there. Rules on things such as noise violations (within legal requirements), tidiness, or use of certain personal items (such as candles or incense) will be nonexistent.

Maintenance Independence

  1. While homeowners will be responsible for their own maintenance issues on their home, they will have full freedom to choose how these issues are handled, when, and by whom.

Ability to Customize

  1. Homeowners may customize their home with remodeling, painting, and landscaping decisions without seeking the permission of a landlord.

Room to Grow

  1. Families looking to have more children or keep more pets will not need to add names to a lease, get permission or pay deposits for legal animals, or ask permission to build extra room(s).