The debate rages on – should I rent or should I buy, and there are compelling arguments for both sides, especially in the wake of the recent housing market meltdown.
With a lot of homeowners displaced out of their homes due to short sale or foreclosure, they have had to turn to renting in the short term, causing rents to rise.
At the same time, the housing market is starting to rebound, some home prices are rising as well.
But the reality is that the cost to rent has gone up way more than the cost to buy, and in the top 100 metro areas in the country, the numbers prove that it is more financially beneficial, to buy.
The benefits of home ownership are huge.
- You become a member of a community
- You get an interest write off on your taxes
- You get a property tax write off
- You are buying your own home – not buying your landlords home for him
- You are gaining equity as the home appreciates and your pay down your principal
- Mortgage rates are at an historical low right now
Home ownership is the American dream, there’s a strong emotional component to owning your own home, not to mention the security of not being at the whim of a landlord, and the ability to do with and improve the property as you will. There are plenty of Fairfax VA Homes for Sale that can meet your financial and emotional needs in a home
Fairfax VA Real Estate is rebounding, and now is the time to buy, while prices and mortgage rates are still low.
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