You can paint it any color you want.
March 25, 2008
OWING vs RENTING
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Own: Mortgage interest is tax deductible.
Rent: Rent is not tax-deductible.
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Own: Each Mortgage goes into building a nest egg for your family.
Rent: Every rent payment disappears forever.
Own: Equity in your home can be used to pay for your kids to go to college.
Rent: Rent check pays for your landlord’s kids for your kids to go to college.
Own: Your payments stay the same with a fix rate loan.
Rent: Your rent increases each year.
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Own: Your children gets to play in your yard.
Rent: Your children play in a parking lot.
Own: You do laundry whenever you fee like it.
Rent: You have to pay to do your laundry each week.
Own: You enjoy greater privacy.
Rent: You know your neighbor’s musical taste better than you know your neighbors.
Own: Pride of ownership.
Rent: Pay less monthly for housing.
Personally, I’ll color it rosy.
You can read why here: http://simpledebtfreefinance.com/5-reasons-why-a-home-is-still-a-great-investment/
But the short of it is I’ve got a long view on the housing “crisis”, and didn’t buy my home for a quick profit or because real estate was hot – I bought cause I needed a home!
I’ve seen an increase in the number of posts advocating renting over buying a home, and I just don’t buy it as the better choice – especially now. With the housing market in the doldrums, now is the perfect time to buy a house, provided that buying a house really is the best choice for the given individual.