Advantages of Owning vs Renting a home - Apple Valley Lake, Ohio

Own a home at Apple Valley Lake!

Rather than rent, listed below are some of the primary advantages of owning your own home.

1) Payments can be less than rental Payments:
With the current interest rates, you might be approved for a Mortgage that the payments will be less than your rent now! If youre in a comfortable position now, chances are you will be owning!

2) More Stable Housing Costs:
Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged
for the entire loan period. If the taxes go up, the increase is usually gradual.

3) Tax Savings:
Homeonwers can be eligible for signifigant tax savings because you can deduct mortgage interest and property taxes from your federal
income tax, as well as many states' income taxes. This can be a considerable amount of money at first, because the first few years of
mortgage payments is made up mostly of interest and taxes.

4) Debt Consolidation:
If needed, you can refinance a mortgage loan to consolidate other debt. The interest on this is typically tax deductable.

5) Build Equity:
Instead of payments disapearing to someone else, home owners are building equity in their own home. This is often one's
biggest assest. Each year that you own the home, you pay more toward the principal, which is money you will get back when
the home sells. It is like having a schelduled savings account that grows faster the longer you have it. If the property appreciates,
and generally it does, it is like money in your pocket. And you are the one who gets to take advanatge of that, not the landlord.
You can then use this equity to plan for future goals like your child's education or your
retirement.

6) It's Yours!
When you own a home you are in control. For the most part, you have the freedom to decorate it and landscape it any way you wish. You can even have a pet or two without permission.

Buying a home is an important decision. It is often the largest purchase a person makes in his or her life. Home ownership also comes with some increased responsibilities, and isn't for everyone.

It 's easier than you thought! To find out if you can own a home, talk with Sherrie & Chris and they will help set things in motion for you to see if the time is right!

Sherrie Toth & Chris Mosier - RE/MAX Consultant Group - at the lake

877-717-LAKE (5253)

Email: info@lakehomeliving.com