Eric Cook

When I was younger, I remember my dad telling me that it was better to own than rent. “When you rent, you are just throwing your money away,” he’d say with a scowl. “Own your home and you can build equity and credit!”

“Equity? Credit? What’s that and why would I possibly want that?” a younger version of me would ponder. Renting is great because you can just stay in a home without having to deal with the maintenance (in many cases) or commit to that property forever.

Today, the older, wiser, educated “me” will tell you why owning is smarter than renting: When you own your home you are paying yourself and not the mortgage on someone else’s property.

Perhaps if my father simply said it like that, the light bulb would have popped into the “on” position and I would have understood why owning is smarter. Other reasons to consider being a homeowner (that your dad may or may not have told you):

• You can pay virtually the same (and sometimes less) making your mortgage payment less than renting.
• Paying mortgage interest has some tax advantages, which may mean less money paid during tax time (be sure to check with a professional tax advisor for more details).
• You can build security owning your home—you never have to worry about surprise spikes in rent or being evicted at your landlord’s whim.
• Owning a home is investing in you and your family’s future. Your home is considered as part of your savings and investments, making it one of the most valuable assets you can own.

Want more reasons to be a homeowner and stop paying your landlord’s rent? We can give help you weigh your options and determine what it will take to become an owner instead of a renter! Rates are at historical lows and it’s a buyer’s market now, so what are you waiting for?

Contact AmeriFirst today at 800-466-5626 or send us an e-mail and ask about the myriad of home loan programs, that we can customize to fit your life!

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