In honor of National Homeownership Month – celebrated every June – here are a few reasons why it’s better to own than rent.

Equity & Appreciation. Every mortgage payment increases your ownership stake in the property—unlike rent, which goes to a landlord. Plus, over time, real estate typically appreciates in value, which can grow your net worth.

Stable Payments. With a fixed-rate mortgage, your principal and interest stay the same over time, unlike rent which can increase annually.

Tax Benefits. Homeowners may deduct mortgage interest, property taxes, and some closing costs—consult your tax advisor for specifics.

Income & Savings Opportunities. You can generate extra income by renting a room (short- or long-term), and making monthly payments toward your mortgage is like a savings plan through home equity.

Pride (and Freedom) of Ownership
There’s a unique satisfaction in owning your home—it often strengthens ties to the community. Plus, when it’s your own property, you can paint, renovate, garden and decorate, personalizing your space without needing anyone’s permission.

If you’re currently renting but thinking about buying a home, Long & Foster can help. With ONE team specializing in real estate, mortgage, title, insurance, inspection and moving, we have everything and everyone you need to streamline and simplify the real estate process. Find your Long & Foster agent today at LongandFoster.com.