Top 5 Reasons to Buy vs. Rent

5 Top 5 Reasons to Buy vs. Rent

Wondering whether you should rent or buy? Here’s a look at why buying might be the better choice.

Creative freedom

Owning your home means you can do anything you want withthe property, like paint your kid’s room orange, replace the carpet with wood or completely remodel the kitchen.

Investment potential

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Appreciation is based on your home’s total value, so it can outpace the gains you might see from investing your down payment cash elsewhere, like in the stock market.

Tax benefits

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Homeowners can deduct mortgage interest and property taxes on their tax returns each year. This significant savings can often make the cost of owning equal to (or less than) renting.

Predictable payments

When renting, you may be subject to annual rent increases with each new lease signing. But if you get a fixed-rate mortgage on a home, your mortgage payment can never change.

Forced savings

Paying your mortgage every month is like a forced savings account – you’re investing in your home, and its value increases over time – while a renter’s monthly payment goes directly to a landlord.

Want to learn more?

Check out zillow.com/mortgage-learning/