Everyone is always discussing renting vs buying a home. It truly depends on your circumstances, but there are some great advantages to home ownership!
1. Pride of Ownership. It's yours, and you get to make it your own! Paint it yellow, change the floors, knock down walls, you decide! (making sure you do it safely and according to code, of course!)
2. Equity! There's nothing like building equity. And, it can grow quickly in today's market which you can use to make improvements to your home and build even more!
3. Low interest rates. Back in the 80s interest rates were as high as 19%!! Could you imagine the payments with today's prices??? Thankfully rates are low, and this means a savings for you or the option to pay down your principle a lot faster! (for more info: Canadian mortgage rates)
4. Tax benefits. There are many tax breaks you can apply for as a home owner. Like the first time buyers tax credit, or deduct the interest portion of you mortgage payment, as well as your property taxes. (for more info: home tax deductions)
5. You get to belong to a community! Meet your neighbors, get involved in community events, and enjoy!
These are just some of the wonderful benefits of home ownership. If you want to learn more (more is always better!!) give me a call!! I've gotcha covered!