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Renting vs Buying

  1. Mortgages are cheap.
    You can get a 30-year loan for less than 5%. Low interest rates slash your monthly payment.
     
  2. You’ll save on taxes.
    You can deduct mortgage interest from your income taxes. This means that owning really does cost less than renting.
     
  3. It’ll be yours.
    You can have the options you want: few landlords will let you paint or otherwise personalize the house. You also have to rely on a landlord for maintenance issues and not all houses are kept up to date.
     
  4. It offers some inflation protection.
    Over the long-term, home ownership is still the best investment.
     
  5. It’s forced savings.
    You’re paying yourself by building equity. Renting means you’re paying someone else.
     
  6. There are a lot of homes to choose from.
    Most builders have a wide variety of new homes in "inventory" so you can buy the home you want in the desired location.
     
  7. Put your money to better use.
    With a monthly payment of $800, you’ll pay more than $53,000 in rent over five years! That money could be building equity in your own home.