10 Reasons to Own Instead of Rent (not what you’d expect)

We’ve all heard the familiar reasons to own instead of rent. “Build equity”, “invest in your future”, “stop paying someone elses mortgage”, “forced savings plan”, etc. I have constructed a list of own-not-rent motives that you may not have thought about.

10 (different) reasons to own a home instead of renting.

  1. You can move in and out when you want to, you don’t have to wait till your lease is up.
  2. No one has to approve the colors you paint your walls.
  3. You actually could be paying less monthly in your own home than similar rentals. Enough to make a difference.
  4. You don’t have to inform anyone that your living arrangement has changed.
  5. Want new lighting fixtures? Not a problem.
  6. Typically, your mortgage payment doesn’t ever increase, unlike rent. (Unless you get an ARM)
  7. Staying in your home longer, means you can become more involved in the local community.
  8. You don’t have to ask anyone to fix your shower head, just do it yourself.
  9. Help build your credit by paying on time.
  10. Most importantly: You don’t have to ask anyone if you can have a pet!  Please adopt.

Are you a first time home buyer? Get started with my first time home buyer’s guide.

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