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5 Fantastic Reasons to Stop Renting and Start Buying a New Home

February 24, 2023

STOP! Put down the pen, and do not renew your lease to keep renting your current home! Please, hear us out first.

Have you ever considered what you’re getting out of the home you’re renting? Sure, you have a roof above your head but what else? You could take all the hard-earned money you’ve made and flush it down the toilet, and it’d still be better than renting. Trust us when we say buying a home is way better, and we have reasons to prove it when you are choosing a place to live! Here are the top 5 reasons to stop renting and start buying today.

Invest, Not Divest

When you buy a home, it’s more than just a roof over your head. When you put money into the house by renovating or maintaining it, you put equity into the home and increase its market value when it comes time to sell. When you rent, you’re not putting money into your pockets. Instead, you’re putting money into the pockets of your landlords. You spend your time and money on keeping up the home, so shouldn’t you be able to taste the fruits of your labor?

You’ll Get Money From Uncle Sam

How good does it feel when you get that tax check from the government every year? Imagine how much better it’ll be when you get an even fatter paycheck from them because you listed your home as an asset on your tax forms. Because a rented house isn’t an asset, you’ll miss out on those sweet tax benefits. 

Coffee Cup Sitting in Front of Tax Paperwork

Renting Rates Can Go Up

Imagine you renting a home and barely being able to pay your bill every month because of how expensive it is. Now imagine the landlord informing you that they will raise your rent. You feel vulnerable because this change is entirely out of your control. That landlord could even sell it to another landlord, who may charge you more. When you buy a home, your monthly payments will always be predictable and stay the same, thanks to the power of a fixed-rate mortgage.

It’s Truly Your Home

When you rent, the home technically doesn’t belong to you. Because the house isn’t yours, the landlord may have specific rules of things you can or cannot do to the home. Want to use pastel colors on the walls of your bathroom? Sorry, the landlord hates pastels and wants to keep the walls plain. As a result, you feel restricted and don’t have that sense of entitlement you so richly deserve. Buying a home gives you that sense of entitlement back in spades. You control what is done to the house; therefore, you feel like you’re genuinely in YOUR home.

Open Floor Plan Home at Friendship Creek in DE

You Can Be Somewhat of a Landlord Yourself

Apps like Airbnb and Vrbo are all the rage these days and for a good reason. When you travel, you could stay at a typical hotel, or you could stay at a charming house complete with a game room and pool. As a result, the owners of those homes listed are making some extra money on the side. See where we’re getting at here? You could list a room for rent or use your entire home as a tourist place. You can set the price and everything and not have to worry about upsetting your pesky landlord.

This article should help you see why you should stop renting and start buying. If you’re searching for a new home in a fantastic location, look no further than Friendship Creek, one of Mckee’s latest communities of 133 brand-new homes, just minutes from beautiful Bethany Beach, Delaware. Here, we offer three distinctly different floor plans, each exhibiting McKee’s award-winning designs. Residents will enjoy a community pool and dog park in the perfect location for enjoying all there is to love at the beach. Is this the community for you? Contact us today and schedule your tour!

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