There are many great reasons why owning your own home makes perfect (cents) sense. One of the best reasons is the potential savings over renting. If you are renting a home, chances are likely that your rent will increase in the next several months. As the economy keeps changing, so does the housing market.
Owning your own home puts savings back in your pocket, and allows you to know exactly how much your mortgage payments are (and allows you to choose various financing options). For example, you can secure a fixed rate that never changes, unlike the rental market. Additionally, for homeowners, the government sometimes offers compensation for home repair, efficiency repairs, etc. which puts money back in your pocket. While the cost of purchasing a home is sometimes more expensive, these types of programs can make things more affordable. And in the long-run, a house simply costs less than a rental.
If you’re in a position to do so, make the choice today to get out of your rental, and begin investing in a home. Now is the perfect time to get rid of your headache, and free yourself from the high cost of renting.