Why buy instead of renting

Dated: January 17 2013

Views: 2843

There are many reasons why buying a home makes more sense than renting. If you are renting, you are essentially throwing your money away.

Whereas if you buy, eventually your loan will get paid off and you will have the benefit of writing off the interest on your  mortgage payments while you are paying off your loan. Once your mortgage is paid off,all that you will have to pay annually are the taxes on your property. You will then have all of the equity in your home so that as you grow older and possibly can't work any more, you could either sell your home or get a reverse motgage if you find yourself short of cash.

Blog author image

David McKay

I have been with Exit West Realty since 2010 and prior to that have had 14 years of sales experience. I have a BBA and an MBA from the University of Texas at El Paso and have lived in El Paso all my l....

Latest Blog Posts

Tax Season Is Right Around The Corner Did You Sell A Home This Last Year

5 Sweet Tax Deductions When Selling a Home: Did You Take Them All?By Margaret Heidenry | Feb 19, 2021 Feverpitched / Getty ImagesYou may be wondering if there are tax deductions when

Read More

Can I Buy Or Sell A Home Without A Real Estate Agent

Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars

Read More

Will The Housing Market Bloom This Spring

Will the Housing Market Bloom This Spring?Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very

Read More