Articles

Buying a house is a serious step in your life and you need to consider all the problems you may face and review the advantages you get with your own property. There are plenty of reasons to buy or not to buy a house, but we’ll highlight the key points that should help you understand whether becoming a homeowner is worth it and make an informed decision.

 

Tax Benefits: Did you know you can deduct your mortgage interest and property tax payments from your federal taxable income? It a huge savings!

 

Rent can be cheaper: Sometimes the monthly mortgage payment is lower than the rental payment or, at least, equal. This is a pretty good reason to prepare the down payment and take the mortgage.

Make any improvements you want! Owning a house gives you a real improvement freedom. There is no landlord who says what you can and cannot do while decorating and improving your house.

You’re stuck with the same house…Unfortunately, despite the freedom mentioned above, when you take a mortgage for a house, you’re stuck with this particular place for a long time. 

Paying the property tax: As a homeowner, you have a lot of tax benefits, but you are also obligated to pay property taxes which is usually collected by the municipal government.

Home repairs and maintenance is on you! The house is fully yours and it means that all the repairs and the whole maintenance process are on you. It’s always fun to call a landlord and ask him to fix a sink, but when you own a home, it’s on you!