| The following are some great advantages to buying | | | | work or improvements you want with gaining all the |
| and owning a home instead of renting. For one it is | | | | benefits for improving your property. |
| largest and most important investment you will ever | | | | 3) Stability: Owning a home gives you great stability in |
| make. Here is a list of the top 4 reasons one should | | | | a couple of ways. It's a great feeling to know that if |
| buy their own home. | | | | you lock in a mortgage rate for 5 even 10 years that |
| 1) Equity: As soon as you buy your house you have | | | | your payments won't change. As far as renting goes, |
| gained considerable equity. A 5% to 10% down | | | | depending on the municipality's rules, a landlord |
| payment has given you 100% ownership of that | | | | generally can increase the rent whenever they want |
| property. As time goes by payments are made your | | | | and to whatever rate they want. |
| mortgage decrease, the property has appreciated and | | | | 4) Future: Owning your own home gives you some |
| your equity continues to grow. Even if your home | | | | great advantages for your future. Aside from building |
| never appreciates which is very unlikely and stays the | | | | equity in your home you are paying down your |
| same you are continuously paying down your | | | | mortgage. The great thing about a mortgage over rent |
| mortgage. If you rent, your payments are similar to | | | | is that eventually you pay it off. Once you have paid |
| what a mortgage payment would be, with really | | | | off your mortgage no more monthly payments, this |
| gaining only one main benefit and that is having a roof | | | | then dramatically increases your disposable income. |
| over your head. You are literally paying someone | | | | Don't get me wrong renting serves a great purpose |
| else's mortgage and creating equity for someone else | | | | and for most of us it is where we start. However |
| 2) Sense of Ownership: It's a great feeling buying your | | | | these are just some of the many reasons why buying |
| own home. There is a great sense of ownership and | | | | your own home has many great advantages over |
| accomplishment. It's great feeling knowing you can | | | | renting. Gaining equity on a home that you can take |
| paint the walls without consequence. Having the ability | | | | pride in owning, which will greatly enhance your future |
| to hang pictures whenever and wherever you want. | | | | while providing stability in the now, seems pretty good |
| Also being able to remodel and renovate, knock out | | | | when your padding someone else's pockets. |
| walls, add bathrooms and pretty much do whatever | | | | |