Renting vs. Buying
When you're a tenant, your landlord is never going to provide a year-end statement showing how much money you threw away in rent or how much more you paid in taxes without a homeowner's deductions for property taxes and mortgage interest. If your landlord did provide such paperwork, I can almost guarantee you'd be out house hunting next weekend!
Buying a home does have its responsibilities. Rather than just writing a monthly check for rent, you're paying taxes, insurance premiums and, possibly, association fees. Instead of calling your landlord to fix a dripping faucet, you'll be familiarizing yourself with the closest home improvement store. "Property values" and "mill levies" take on a whole new meaning when you're a homeowner. You may find that you're paying closer attention to the elections of local and national officials since their votes can affect your own home's value.
All told though, the purchase of a home is one of today's best investment. For decades, home prices have continued to beat inflation to the finish line making the real winner the homeowner. And with every monthly payment, you're building personal savings through your home's equity. Even better? You really do have a place to call "home."
Ready to stop throwing your money away? Call me and I'll show you how much you'll save as a homeowner.
Gordon & June Smith
Brokers/Owners
G.J. Smith Realty | 908 East Jackson | Medford Oregon 97504
Office 541-858-9383 / Fax 541-857-9526 | E-mail:gjsmith@mind.net
This article is not intended to provide specific advice, but rather to provide insight into matters that we feel are useful. As always, seek professional advice prior to taking any action.
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