You may be weighing up the benefits of renting versus homeownership. Renting seems so easy, and buying a home seems like a big commitment. Here are a few benefits of homeownership to help you make a decision:
• A mortgage can be lower than a monthly rent payment
• Owning a home allows you to build equity as home value may increase in value over time = financial gain!
• Mortgage interest you pay may be tax deductable
• Opportunity to renovate, landscape and decorate how you please – you can a paint a wall a different color, plant a big tree, build in shelves etc.
• You can gain a greater attachment to the neighborhood and neighbors
• You will provide good stability for your family
• Homeowners are reported to have higher life satisfaction, higher self-esteem, happiness, and higher perceived control over their lives.
• Pride of ownership
Click here for a comprehensive list of the social benefits of home ownership. You may be surprised to learn about the health benefits of owning your own home!
Hilton Head Real Estate Partners can assist you with your buying decisions, whether you are looking for a new home on Hilton Head Island, Bluffton or the Lowcountry, give us a call today on 843-301-5825.