Think About These Three Ways You Lose Money by Renting
- You’re paying for someone else’s mortgage payment. You’re missing out on the appreciation that the property gives to the landlord. Appreciation is a term used in accounting relating to the increase in value of an asset, which means in real estate terms, added value to the property.
- Renters don’t get to freeze their monthly housing expenses like home buyers can. Even with adjustable interest rates, payments may go up over time. However, these payments will not go up over the long term like rising rents. Just think about how much an apartment costs today compared to ten years ago. Rent to own with us and you could enjoy comfortable payments and not have to worry about a rising rental payment.
- Rent and you won’t benefit from tax advantages. Home owners get income tax deductions. Tax deductions for interest costs, for instance, save tax payers thousands of dollars.
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