If you are currently renting a home and are wondering if it is really worth it to become a home owner, then you have come to the right place. The Tyler Osby Team at Fairway Independent Mortgage Corporation has made a list of the top 5 reasons why buying a home is better than renting one.

1. Artistic Freedom:
Owning a home means you have the artistic freedom to do whatever you want to your house. This means you can paint the walls any color you’d like, or tear down the walls in the kitchen to brighten up the space. You have full freedom to alter, fix or change anything on the interior or exterior of your home without needing to pay your landlord a fee.

2. Tax Benefits:
This is probably the biggest perk of owning a home. Being able to deduct your mortgage interest and property taxes each year can help you save a significant amount of money. When you rent a home, the money you pay monthly has no added benefits—you will never see that money again. Being able to get tax deductions on your Des Moines mortgage payments can help you save hundreds of dollars every month.

3. Automatic Savings:
Houses appreciate in value, which means the value of your home will increase over time. Every month when you pay towards your mortgage, you are lowering your loan balance and increasing your home equity. Increasing your home’s equity gives you access to more money that can be used for a number of things, such as: paying off debt, buying a new home, renovating, investing, or even going on a dream vacation.

4. Consistent Payments:
If you are renting a home, your landlord has the right to increase your monthly payments every year. However, if you own a home and have a fixed rate mortgage, your monthly payments will be consistent year after year. Having a fixed rate can help you budget accurately because you will know how much you owe towards your mortgage in Des Moines, and how long it will take you to pay it off.

5. More Involvement:
Those who own a home are more likely to be involved in the community then those who are renting. Having the pride of homeownership will make you more inclined to attend town council meetings, vote in local elections, or help clean up the area. Being involved in the community can help better your home’s environment, and is a great way to meet people.

Becoming a homeowner has more benefits than just renting. If you are thinking about buying, take the first step and talk to your local Des Moines mortgage lender today. The Tyler Osby Team at Fairway Independent Mortgage Corporation would love to help finance your first home and make your dreams of homeownership become a reality. So don’t wait, contact us today at 515-257-6729 or tylero@fairwaymc.com.