Owning vs Renting

Why Rent When You Can Buy!

Owning vs. Renting can be a confusing decision. There are advantages to renting when we take that first step towards independence, such as less responsibility when dealing with repairs and learning how to budget your finances properly.  However, there will come a time in your life when homeownership is the right choice for you and your family.

Presenting five advantages of homeownership:

1). You can build equity in your home – in an apartment!

2). The interest portion of your mortgage payment may be tax deductible* –

No portion of a rent payment is tax deductible.

3). The principal and interest payments of a fixed-rate mortgage never

increase – Rent payments almost always increase when the lease is

renewed.

4). In a single family home, you have more privacy and don’t hear our

neighbors as much – In an apartment, you share walls and the floor or

ceiling or both with your neighbors, which can be noisy.

5). You have the freedom to decorate, make improvements and add

security features in your own home – In an apartment or rental property, you have to live with what the landlord provides.

*consult your tax advisor for complete details

Tax Advantages

Renting – NONE

Owning – YES – there may be tax deductions for mortgage interest paid, please consult with a tax advisor.

Security

Renting – NONE – you can be given a notice to vacate the property.

Owning – YES – this is your home until you choose to sell the property.

 

Inflation Protection

Renting – NONE – your rent may increase

Owning – YES – with a fixed rate mortgage our principal and interest payment will remain the same for the life of the mortgage.

Investment

Renting – NONE

Owning – YES – the value of the property has great potential to increase in time and will benefit you not a landlord.

Darren Ferlisi

Mortgage Loan Originator

NMLS ID#139611

Cell Phone: 301.448.0749

Office Phone: 240.415.5065 

FAx Number: 240.415.5019 

Email: dferlisi@ihmcloans.com

5300 Westview Drive, Ste 408, Frederick, MD 21703

Branch NMLS ID# 844634

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License Info

VA State Corporation Commission
#MC-3599

West Virginia Division of Banking
#MLB-24748

MD Commissioner of Financial Regulations
#15266

Pennsylvania Department of Banks and Securities #37079.002

NMLS ID #208516 (www.nmlsconsumeraccess.org)

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Integrity Home Mortgage Corporation (IHMC) is not affiliated with or acting on behalf of or at the direction of the FHA, VA, USDA or the Federal Government.