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Rent vs. Buy – Should You Buy a Home?
Factors You Should Consider to Determine if Buying a Home is Right for You
The first step in determining whether to rent or buy a home is to ask those questions and more.
- Do you want to own your own home?
- Can you afford your own home?
- Does owning your own home make sense for you financially?
- Does owning your own home make sense for you emotionally?
- Do I have the savings necessary to afford annual home maintenance costs?
If you are struggling to answer these questions, the following facts may help you make the first step towards becoming a homeowner.
Owning a Home Results in Tax Savings
The government does not return a dime of your rent checks when you file your taxes. In contrast, homeownership has tax advantages, which can help save you money. Unlike your monthly rent, the government returns part of your monthly mortgage payment in tax savings.
Most Americans cannot afford to continue renting. Invest in your future with a home of your own.
Over the last decade, the average price of renting a home in the U.S. has increased 3% annually.
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If you or someone you know has questions about obtaining an Oklahoma mortgage, please contact our Oklahoma mortgage team today! Call: (405) 358-3560 or toll-free (800) 308-8503. You can also use the contact form on this page to get immediate assistance.