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Oftentimes, first-time home buyers and current rental tenants ask us whether they should consider buying or renting. There are a few reasons why buying is better than renting, especially in the surrounding Indianapolis region.
- Pride of homeownership: It’s the American dream and what everyone strives for. If you get approved for a loan, now is the best time to make the transition.
- Mortgage interest deductions: You can take your mortgage interest and deduct that from your taxes. If you’re renting, you’ll only receive the standard $1,500 deduction.
- Your credit score: Everybody knows how important credit scores are! It helps you buy anything you want. Owning a home and paying your mortgage on time can increase your credit score.
- Rising rents: The country faces increasing monthly rent payments everywhere. Instead of paying rent, you can be investing in your own property.
If you’re thinking about buying in the local marketplace, give us a call or send us an email! We’d be happy to work with you and answer any real estate questions you might have.
