Pay Less to Own Than Rent!
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Posted by Kerry Struif Apr 5, 2006 |
Buying, instead of renting, has financial benefits.
Some of the positives include:
1) You can write the interest off on your taxes. This offsets the price you're paying to live in your home.
2) Your payments will never go up if you choose a fixed rate loan (although your taxes and insurance probably will.)
3) You'll build equity. Your home is probably your largest, if not your largest, asset. It can be worth more than your stocks, checking, savings or retirement accounts!
Buying a home can ultimately save you money and add to your assets. Visit the mortgages/loans pages of Suite101 often for insider information on home loans and refinancing. Hit CTRL D to bookmark now.
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