One thing that’s been consistent with the Charlotte housing market over the years is that rent is on the rise. That means more money out of your pocket…every month…without earning a penny in equity. As you can see by Zillow’s chart below, there seems to be no end in sight to rising rent especially as Charlotte continues to grow. If you’ve been thinking about buying, consider these three benefits to owning instead of renting.
- You can do what you’d like with the home. If you’ve ever rented, then you know this isn’t the case. No paint colors, wallpaper, or custom features. When you own a home, you can completely customize the house to make it feel more like your home.
- Tax Benefits. This is a big one! Homeowners are allowed to deduct mortgage interest and property taxes when they file tax returns each year.
- Security. Mortgage rates stay the same each year. Rent does not. Your landlord could decide to end your lease next year or sell the home/apartment. There’s only short-term security when renting.
These are just three (of many) reasons to buy! If you’ve been thinking about becoming a homeowner, we can help you through the process. Let’s talk today!
Premier Property Solutions-Charlotte, NC 