Every year, millions of people just like you enter the American Dream of home ownership. But purchasing a new home can be very overwhelming. For many people, it's the biggest financial investment we'll ever make. The decision is easier when you discover the financial advantages and increased quality of life that come along with home ownership.
The chart below will help you weigh the benefits of owning versus renting. Good, sensible information will free you from fretting about your big decision. Rest easy! It's time for you to stop pacing the floor 'til 4 am and start dreaming of your new home.
The first and most important step is determining how much you have to spend. Then you'll know for sure that the home you desire is within your reach. How would your new mortgage payments compare with your rent? Take a look at the financing calculators from our, How Much Can I Afford, section to find out.
After a quick comparison, we think you'll agree there's no place like a home of your own.
Potential tax savings from your home and potential equity can be used to pay for your children to go to college, or your retirement.
Your rent doesn't build your future.
You are in control of your monthly payment.
Your landlord controls your monthly expenses.
Your pets have a yard to play in.
Your pets are often unwelcome.
You tend a beautiful garden.
You water a couple of potted plants.
You can try that new, designer painting technique in your bedroom.
You live with someone else's taste.
You do laundry whenever you feel like it.
Often you have to scrape together quarters each week to do laundry.
Your children can play in your yard.
Your children sometimes end up playing in a parking lot.
Mortgage interest is tax-deductible. The IRS's loss is your gain.
Rent is not tax-deductible.
Each mortgage payment could go toward building a nest egg for your family.
Every rent payment disappears forever.
You have a garage for your vehicle and extra storage.
Often you search for parking in the street.
You usually have more have space for your family and all your things.
Space can be limited and often your children share a room.
You have the pride of knowing you've accomplished a milestone.
Someone else owns where you live.
RENT VS OWN
Not sure if buying a new home is right for you? These thoughts help you understand the distinct advantages of homeownership.
NEW VS USED
Buying a used home means inheriting someone else's idea of style and taste. But with a new home, you create a home that's everything you want and more. Just the way you want the day you move in. Check out our thoughts on why we believe buying a brand new home is better than buying a used home.
EDWARDS HOMES approach to doing business has been tailored to meet the specific needs of our home buyers.