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Rent vs Own

Rent Vs Own

Homeownership is one of the smartest ways to invest in your financial future, however the decision to purchase a home is a very personal one.  Choosing whether to rent or purchase a home will come down to your short/long term goals, career goals, personal finances and the current housing market.

By purchasing a home, you are investing your hard-earned money into a home you can call your very own. Here are a few reasons you might want to choose to own a home rather than rent:

1.)    The true cost of renting may be costing you more. Aside from rent, renters must also pay deposits, fees, insurance, maintenance and movers.

2.)    Stability. A home provides a stable environment to start thinking about long term goals and of having a family.

3.)    Equity & Investment. Your home may grow in value and as you pay off your mortgage your equity and value will begin to grow too. Owning a home is an investment that yields high returns.

4.)    Property Taxes are tax deductible and can save you money every year.

5.)    Lock in your price and interest rate. Generally speaking, home prices tend to rise. By purchasing a home when the time is right you will be able to achieve long term savings.

6.)    Freedom. Your home becomes a direct reflection of your tastes. Have the creative freedom to change your flooring, exterior colors or make additions. Because the home is yours.

 

Ready to make homeownership a reality?

Call the experts at NOVA ® Home Loans for catered guidance on one of life’s greatest investments. Your home.

The information contained here is educational only. Other conditions and restrictions may apply. Rates and available programs are subject to change without notice. Contact your loan officer for more information

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