You’ve been browsing houses on Zillow, you’ve got a home decor board on Pinterest a mile long, but buying a house still feels like a huge jump. If you’re having the buying vs renting debate, there can be a lot to consider. Read on to unpack the benefits of buying your own home instead of renting.
Four Benefits To Buying vs Renting
Put Down Roots
The longer you plan to stay in one spot, the more cost-effective buying a home as opposed to renting one makes. If you’ve gotten married or found a great job in your city and are looking to settle down, then buying a home can be a very financially savvy next step.
Escape Rising Rent
It’s no secret that rent prices are on the rise in California, and they’re only set to get higher. If you’re tired of budgeting according to the whims of a landlord who jacks up your rent each time you renew your lease, then buying is a great antidote.
Invest In A Home
A home shouldn’t be your only investment; a diverse portfolio is more secure. That said, if you’re in it for the long haul (about 10 years) then a home can be a great investment, especially if you’re in a good area where property values are increasing.
The Pride of Homeownership
Buying can often bring fiscal advantages over renting, but buying your home is also a very emotional decision. The freedom of having your own space, being your own landlord, and gaining the sense of security and stability that comes from having put down roots are important perks of home ownership.
If you’re considering buying vs renting for your next home, take the time to go over the pros and cons of both options. Buying a home can seem intimidating, but your own home is often a great investment, and something to be proud of.
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