Advantages of Owning
- Tax benefits of ownership can easily
be demonstrated for such items as interest and tax deductions
-
Control of occupancy is assured since you are your "own
landlord."
No one can tell you when you have to sell or move
- Equity
accumulation is a major factor in home ownership, it is like
"forced savings"
- Appreciation in value is a real estate norm.
Owners enjoy such increasing values
- You choose the colors and features
that you want
- You reap the benefits from additions, improvements,
etc.
-
It's YOURS! A sense of pride in ownership for you and your
family
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Disadvantages of Renting
- You cannot deduct rent
payments from income tax
- As a tenant you are subject to the
landlord's lease and this usually means higher rent payments
each year
- There is no "equity
accumulation" in renting, you are essentially throwing your
money away each month
- Only landlords benefit from appreciation
in values — not the tenants
- You live around someone else's colors and
choices
- Landlords
benefit from your work and costly improvements
- You lose
money each month and do not invest in your future
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