Everyday Luxury Group

  • Home
    • A Financial Plan for Your Home
  • Selling
    • 7 Tips for Staging Your Home
    • Can a Comparative Market Analysis help you?
    • Creating More Visual Space
    • How the Canniest Sellers Price Their Homes
    • Keeping Your Home in Shape for Showing
    • Preparing to Sell Your Home?
    • Setting The Price Right
  • Search
    • First Time Home Buyer
    • Lease/Purchase Program
    • A Home Buyer’s Wish List
    • Buying vs. Renting Your Home
    • How Much Home Can You Afford?
    • Should You Look for Your First House or Keep Renting?
  • New Construction
  • Investment Services
    • Property Management
  • Lease Purchase
  • WHH
  • Connect
    • Testimonials
    • Christopher Diaz, P.A.
      • Everyday Luxury Group
    • Courtney Leigh Diaz
    • Carrie “Detective” Mims
    • Joe Saragusa
407-347-9005
Everyday Luxury Group

  • Home
    • A Financial Plan for Your Home
  • Selling
    • 7 Tips for Staging Your Home
    • Can a Comparative Market Analysis help you?
    • Creating More Visual Space
    • How the Canniest Sellers Price Their Homes
    • Keeping Your Home in Shape for Showing
    • Preparing to Sell Your Home?
    • Setting The Price Right
  • Search
    • First Time Home Buyer
    • Lease/Purchase Program
    • A Home Buyer’s Wish List
    • Buying vs. Renting Your Home
    • How Much Home Can You Afford?
    • Should You Look for Your First House or Keep Renting?
  • New Construction
  • Investment Services
    • Property Management
  • Lease Purchase
  • WHH
  • Connect
    • Testimonials
    • Christopher Diaz, P.A.
      • Everyday Luxury Group
    • Courtney Leigh Diaz
    • Carrie “Detective” Mims
    • Joe Saragusa
407-347-9005

News

Looking for certain features
Buying vs. Renting Your Home

Buying vs. Renting Your Home

By

Christopher Diaz, PA

Posted in Buying On Jan 13, 2017

Buying vs. Renting Your Home

Is now the right time for you to buy a home? You have many options to consider and choices to make. Buying a home is a big responsibility, financially and emotionally, but, most people want to own a home. Homeownership often is referred to as “the American dream.” Why is it so special? Among the reasons: Real estate often is an excellent investment, perhaps the number one source of wealth-building for families.

Everyday Luxury GroupOwning a home has many benefits. When you make a mortgage payment, you are building equity-and that’s an investment. Owning a home also qualifies you for tax benefits that may assist you in dealing with your new financial responsibilities-such as homeowners’ insurance, real estate taxes, and upkeep, which can be substantial. But given the freedom, stability, and security of owning your own home, they are definitely worth it! Owning your own home also can be a great source of pride and stability.

But homeownership may not be for everyone. It’s a big financial commitment- starting with the initial shock of your purchase (including a down payment and fees paid to a real estate agent, the lender and others) followed by years of monthly mortgage payments, real estate taxes, property insurance, and maintenance costs. When you decide to purchase a home, you accept responsibility for paying for these expenses. They are additional costs to your monthly mortgage payment and should be included in your budget estimates: Property Taxes and Special Assessments, Home/Hazard Insurance, Utilities, Maintenance, Home Owner Association (HOA) Fee if applicable.

Consider these questions when making your choice:
• Do you want to spend several years in a house and in a neighborhood?
• Do you enjoy lawn and garden work?
• Might you need to move suddenly to care for family?
• Do you want to keep your assets accessible in the bank, or do you want to invest long-term in a home?

One of the advantages of renting is being generally free of most maintenance responsibilities and the flexibility of moving almost as soon as you decide. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for your housing needs.

Everyday Luxury Group

Home ownership also comes with short and long-term tax advantages. The mortgage interest and real estate taxes are tax deductible, which allows you to subtract part of your housing-related expenses from your taxable income and could reduce your tax bill. In many cases, the amount of money a renter spends on rent can be about the same as or less than the amount a homeowner spends on a mortgage. With the tax benefit for homeowners, the savings can be significant.

Christopher DiazChristopher Diaz, P.A. – Christopher brings a wealth of knowledge from both personal and professional experience in the field of real estate. He is recognized as a “Gold Key” certified REALTOR® by the Orlando Regional Realtor Association for excellence and professionalism and an Orlando Top 500 REALTOR®. He has extensive experience in investment properties including flip, long term, vacation and second homes as well as traditional residential real estate. His client base includes local, national and international buyers and sellers. Christopher also serves as the Real Estate Sales Director for Verandah Properties and enjoys spending his free time with his wife and four children. Let’s Connect!

Buying vs. Renting Your Home

 #Buying, #EverydayLuxuryGroup, #FinancialPlanning, #Firsttimebuyer, #RealEstate

Recent Posts

  • How the Canniest Sellers Price Their Homes
  • Keeping Your Home in Shape for Showing
  • How Much Home Can You Afford?
  • A Home Buyer’s Wish List

Tags

#Buying #EverydayLuxuryGroup #Finances #FinancialPlanning #Firsttimebuyer #FlippingFlorida #HomeBuyer #Insurance #Investment #ReadytoSell #RealEstate #Selling #Sold #Staging #Tips #TopDollar

Pages

  • Buy or Sell Orlando Florida
  • Closing Costs Assistance
  • Gallery
  • Privacy Policy
  • Rent-to-Own
  • Welcome Home Heroes
  • Central Florida’s Real Estate Experts
  • Selling with Confidence
  • Search
  • First Time Home Buyer
  • Lease/Purchase Program
  • Investment Services
  • Connect
    • Everyday Luxury Group
    • Partners
    • Testimonials

© 2021 CHRISTOPHER DIAZ, P.A. 001 863 370 3158

EVERYDAY LUXURY®

A Financial Plan for Your Home A Financial Plan for Your Home Setting The Price Right Setting The Price Right

Owning a home is a keystone of wealth… both financial affluence and emotional security.

Suze Orman
17th April 2021 Saturday!
Everyday Luxury Group
  • Login
Forget Password?