Renting Or Buying A Home? 16 Key Factors To Decide Your Choice

Factors to consider for renting or buying a home. Business woman thinking to buy or rent a home.

(12) Tax Breaks For Homeowners

It is one of the most unbeatable factors to decide on renting or buying a home. Tax breaks can save you enough amount of money to recude the final cost of ownership.

According to income tax rules & regulations, homeowners can deduct their mortgage interest payments as well as other property taxes from income tax.

Renters are unable to take the advantage of such attractive tax breaks on housing expenses.

Thus, you should buy a retail property to get tax breaks from annual income tax statements rather then living in rental property.

[Read Also: 15 Big Mistakes That Make House Flipping A Flop]

(13) Pride & Comfort Of Being A Homeowner

It is one of the most wonderful factors to decide on renting or buying a home. Pride & comfort is totally an internal feeling of every individual. Most of the people take pride & comfort in being a homeowner rather then being a home renter.

If you are living in a rent, you may have to face some restrictions & criticism for your personal activities & lifestyle from your landlord.

If you are not comfortable with such restrictions & criticism from a landlord then it will be much better option to buy a housing property instead of living in a rented house with restrictions.

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