4 Reasons to Buy a Home Instead of Renting
Buying a home can be much more affordable than renting, and it can offer long-term financial benefits when you own your own home instead of renting someone else's. If you're on the fence about buying or renting in Cape May County, this list of four reasons to buy will help you decide which path is right for you.
1-. Buying is Cheaper Than Renting
Buying your own home is an investment in your future and can be much cheaper than renting. According to Weichert Realtors' 2017 Cost vs. Value Report, nationwide, buying is 36 percent cheaper than renting on average. For example, according to Zillow, buying a home in Cape May County, NJ, costs approximately $169 per square foot while renting costs $233 per square foot on average. That's over 30% savings!
2-. Owning Has Tax Benefits
In addition to providing you with shelter and security, homeownership has financial benefits. You can deduct mortgage interest from your taxes (if you itemize) as well as property taxes, which many people do not realize. And if you pay $1,000 or more in mortgage interest and property taxes per year, you'll also see an increase in your tax refund for those years.
3-. Making a New Place Feel Like Home
When you move into a new home, it can feel like it's still someone else's house. There are many things you can do to make your new home feel more like yours—from re-arranging furniture and personalizing rooms to sprucing up with some interior design ideas. Try these ways to make your new place feel like home in no time!
4-. You Have Options When You Buy
Buying a home is much different than renting. When you buy, you have options that may not be available when you rent. For example, many buyers customize their home by adding their custom features such as a sunroom or outdoor kitchen. And if there's an unexpected change in your life that leads to downsizing your living space, it's easy to sell your home
- For many people, buying a home can be a better fit for their finances and lifestyle than renting a home. Weichert, Realtors® City to Shore is located in Cape May County, New Jersey. Our expert team of agents is here to help you every step of the way when you buy or sell your home. Reach out today to get started!
The data relating to real estate for sale on this web page appears in part through the
Cape May County MLS program, a voluntary cooperative exchange of property
listing data between licensed real estate brokerage firms in which we participate,
and is provided by Cape May County MLS through a licensing agreement.
Disclaimer: All information deemed reliable but not guaranteed and should be independently verified.
All properties are subject to change, withdrawal, or prior sale.
The data relating to real estate for sale on this web site comes from the participating brokers of the South Jersey Shore MLS. Any use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Information displayed on this web site is Deemed Reliable But Not Guaranteed. This data is updated daily.
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