03/19/2025
*4- Major Benefits to Homeownership.*
You Control your Domain:
When you own, the space is completely yours to do what you’d like with it. There are significant benefits to controlling your own domain.
Having a Fixed Monthly Payment:
When you rent, your landlord can change your rent payment once your lease is up which is typically after 12 months. if you do a 30-year fixed-rate mortgage, you know what your payment is going to be each month and as the years go on, you will make more money, but your payment will be the same, saving you more money in the long run.
Asset Growth:
The wonderful thing about real estate in comparison to stocks is if you want to buy $100,000 worth of stock, you must put $100,000 on the line. With real estate, you can buy a $100,000 asset with maybe 5%, 10%, or 20% down, and you own the entire asset. Let’s not forget your asset value is going up every single year as you’re paying your mortgage down.
Mortgage Interest Deduction:
Mortgage interest is tax deductible, rent is not.
