The decision between buying and renting a home or apartment can be extremely challenging. Deciding where to live, how much space you will need, and how much you can afford are all important factors that help determine which one is right for you and your family. However with the current housing market, now is a better time than ever to buy a home in Phoenix. Here at AllHomesAZ we want you to know the advantages of buying a home in Arizona, so we have created this blog to show you some of the perks of becoming a home owner.
It’s Currently Cheaper to Buy than Rent
Despite rising home prices, buying is still considerably cheaper than renting in Phoenix. 2013 has proven to continue the buyers’ market trend of 2012 and with many houses opening up in the Phoenix area now is a great time to purchase your dream home.
Owning a Home Builds Equity
Paying rent every month means you are giving money away with no benefit to your future. However every mortgage payment you make when owning a home helps you gain equity over time. Equity can offer as a lifeline to you in the future, as home equity loans or lines of credit allow homeowners to tap into their home for much-needed cash or in case of emergency.
There are Many Tax Advantages to Owning a Home
Being a homeowner means you get unique tax breaks by staking your property claims. All mortgages involve interest payments, but that interest is tax deductible. Property taxes and some moving expenses can also be deducted for new homeowners.
You Will Have More Credit Opportunities
Owning a home can unlock many future credit opportunities. Banks and credit card issuers favor those who own a home, which is why credit and loan applications often ask if you are a homeowner.
Freedom and Flexibility
Home ownership gives you the freedom to live the way you choose without having to worry about neighbors or landlord restrictions. Buying a home means creating a space that is yours to do with it what you want, as well as creating a nurturing place to raise a family or host guess without worry.
Looking to buy a home, or sell your house? Give us a call at (480) 227-5214; we are a local company and a proud member of the Better Business Bureau. AllHomesAZ is ready to pay for what you have to offer us!
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