Owning vs. Not Owning

Owning

Investment
Rental payments are gone once you have made them. But, with each mortgage payment you are buying something tangible; you are building equity. The longer you own your home, the larger the equity.

Tax Advantage
All interest paid on a mortgage is almost always deductible for income tax purposes.

Authority
The freedom of owning your own home cannot begin to compare with the restrictions that renters experience. Ownership offers special advantages that make life more enjoyable.

Security
A feeling of security comes with owning a home and the knowledge that your home is a safeguard against inflation. Generally, as prices go up, so does the value of your property.

Not Owning

Throwing Away Money
You cannot build equity with renting. In the end, you will have nothing to show.

Higher Monthly Expenses
Your rent can increase at any time.

Less Control
When you rent, you have no control over your circumstances. The rent can go up, or the owner can tell you that you have to move.

Paying Someone Else's Mortgage
The money you are paying the owner generally goes toward their mortgage. Why not put it towards yours?

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