The Benefits of Owning a Home Vs. Renting

Key opening a new house with a house key chain ©Michael Dechev

Are you tired of renting? We don’t blame you! With rising rent prices, never-ending maintenance requests, and noisy neighbors on all sides, this is a great time to buy your own home from Rockhaven Homes. There are many benefits of owning a home instead of renting; keep reading to learn how you can purchase peace of mind and stabilize your monthly housing costs!

Build Home Equity: Invest in Your Own Future

Instead of paying rent every month to a landlord or a housing corporation, you should be paying into real property that builds future equity for you! Home equity is the difference between your home’s market value (what you could sell it for) and your remaining mortgage balance (how much you still owe). As you consistently pay your mortgage each month, your home equity will naturally grow from a reduced loan balance. Additionally, the market value of your home increases with time. The equity you’ve built through homeownership allows you to make money from the initial purchase if you decide to sell later, or you could even convert your starter home to an investment property of your own. Renting, on the other hand, is money that you’ll never see again and only builds equity for your landlord!

To recap, equity comes from:

  • Natural growth in market value
  • Servicing your mortgage as scheduled
  • Improvements you make in the property while you own it

Bonus tip: In the last 50 years, real estate has consistently outperformed stocks and other investment strategies, and made more millionaires than any other growth strategy!

Tax Benefits of Homeownership

There are great tax benefits that can be yours when you switch to homeownership! Almost everyone qualifies for these key tax benefits of homeownership:

  • Deductions of mortgage loan interest
  • Deductions of discount points and loan fees
  • Deductions for state and local property taxes

Additionally, you may qualify to exclude capital gains (the profits you make from selling an asset) up to a certain limit when you sell your primary residence. Of course, each individual’s situation is different, and your CPA will have more personal answers for yours. But these basic benefits are almost universal!

Stability: No Surprise Rent Hikes

Have you ever experienced the frustration of your landlord raising rent prices without giving you any new perks or amenities? You can make this a thing of the past when you become a homeowner! Fixed mortgage payments remain consistent and won’t come with any surprises. And with our current incentives, you can save up to $19k* on your new home! Refinancing your mortgage is another great option if you want to have a lower monthly payment – known as a rate & term refi. A cash out refi allows you to use the extra money from equity for other expenses or investments.

Housing budget benefits to homeownership:

  • Fixed-rate mortgages come with fixed payments
  • No random rent hikes
  • Control and peace of mind
  • Possibility to lower payments after some time in your new home

More Creative Control Over Your Living Space

When you own a home, you usually have much more creative control than an apartment. You have the freedom to:

  • Put as many nails and command strips on the walls as your heart desires
  • Paint the walls a different color
  • Renovate your home by adding a home gym, game room, or work-from-home office

The sky’s the limit! (Well technically, we guess the roof is the limit, but you get the gist.)

The Pride of Homeownership

There’s just something about owning your own house that makes all the difference. It’s a significant life accomplishment to own a home and be able to do what you want with it. When you purchase a new construction home from us, you’ll be the first one to live there and create memories with your friends and family. You won’t need to worry about old pipes bursting, mysterious stains on the walls, or outdated appliances.

Our homes are built with the latest features, so homeowners can enjoy living in their new neighborhood without the hassle of remodeling or repair costs. Taking pride in where you live allows you to feel more connected to your community and your home.

Take the First Step Towards Homeownership Today!

Rockhaven Home

Take the first step towards homeownership and experience the benefits of owning a home! Check out our new construction communities around metro Atlanta to find the perfect location for you and your family. Then, contact our agents to ask any questions you may have or schedule a tour. We’ll help guide you through the home-buying process and show you how much you can save in our neighborhoods! Experience a superior home-buying experience with Rockhaven Homes. Contact us today!


*See full offer for details & disclosures.

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