Welcome back to the Capital City Real Estate Group video blog! I’m Marc Iafrate, Broker-in-Charge of the capital city real estate group here in Raleigh. Today we are going to discuss 3 Excellent Reasons to Buy a Home So You Can Get out of the “Renting Rut”
Renting a home is a good option for some, but buying a home just might be the best thing for you. When you rent a home, you send money to someone else every month in exchange for knowing that you can call on your landlord when the roof leaks, an appliance stops working or your bathroom faucet breaks. There are some big advantages though to buying a house that will help you get out of your renting rut and focus more on your future.
Did you know that when you rent a home, you help someone else build equity? Any changes that you make with your landlord’s approval puts money back in his or her pocket. Rent you pay, keeping the yard clean and taking care of routine maintenance builds their equity in that property. When you buy a home of your own, you have the chance to build equity of your own.
Save On Your Taxes
When you rent a house, you cannot deduct the money you spend on your taxes. In general, you cannot deduct rent payments for your personal residence on your federal taxes, however, you can generally deduct mortgage interest and property taxes when you own your home. Of course, you need to speak with your tax advisor about your specific situation. There are also some federal tax credits that may be available for upgrading to energy efficient appliances you’ll want to find out about.
Put Your Personal Touch On Things
As long as you continue renting, you live in a home that belongs to someone else. Your landlord has final say over what you do and do not do. This often means that you cannot make repairs or significant changes without seeking approval first.
Owning a home lets you put your personal touch on things. You can paint the walls any colors you want, rip out the carpet to add hardwood flooring or even make significant changes outside to turn your new home into your dream home.
Now that you know more about the benefits of buying a home and how that purchase can get you out of the rental rut you’re in currently, turn to a real estate professional for assistance. Your professional and experienced brokers at the Capital City Real Estate Group are here to help you with every decision. Contact us today! We look forward to speaking with you.
And remember, you can always rely on your Capital City Real Estate Group Broker for helpful tips and referrals for trusted professionals whenever you need them.
To search all homes for sale in the Raleigh area and surrounding communities, visit this link to our website http://search.capitalcityrealestategroup.com/search-landing.php
Marc Iafrate, MBA
Capital City Real Estate Group
(919) 390-7810 Office
8319 Six Forks Road, Suite 201
Raleigh, NC 27615