Buying a home is one of the biggest financial decisions you’ll make.
Whether buying your first home, refinancing, or renovating – McLean Mortgage Corporation understands what a significant part of your life your home represents.
These are several benefits that can come with buying vs. renting!
- Security & Freedom. Your home provides security for your family and allows you the freedom to live by your own standards.
- Community. By owning you become part of a community
and will develop relationships that can last a lifetime.
- Tax Benefits. Your rent can’t be deducted from your taxes, but
most of the mortgage payment is tax deductible, which significantly lowers your cost after taxes.
- Investment. A home is a great long-term investment. Studies by
the Federal Reserve Board show that owners have an average net
worth over ten times that of renters.
- Forced Savings. While all of your rent goes to your landlord;
a good portion of your mortgage payment goes to pay down what
you owe so you’re building equity every month.