How do I know if I should rent or buy?

Buying a home may be right for you because it offers:

• Predictable Payments: Tired of rent increases? Purchasing a home with a fixed rate mortgage loan adds peace of mind and ensure you lock in a consistent mortgage payment for the duration of your loan.

• An Investment Opportunity: Unlike a rental, a home is a tangible asset that has the ability to appreciate in value. Plus, you can even rent out a spare room in your home for extra income!

• Tax Benefits: Put money back in your pocket: Many expenses associated with owning a home, such as property taxes, interest and accounting costs, could all be tax deductible. Consult a tax professional for additional information

• Personalization Opportunities: Whether it's a simple paint job or an extensive renovation, purchasing a home puts you in control. Plus, any value added to the property goes directly into your pocket.

• Equity Savings: Each monthly loan payment means greater equity for the home owner. This translates into savings that benefit you, the owner.

• Lower Monthly Costs: If you crunch the numbers, the monthly cost of owning a home (excluding the down payment and closing costs) is often much less than renting in the majority of U.S. markets.