Home Ownership vs. Renting
Relocating is a major life change. But did you know that it might also be your best opportunity to realize your dream of owning a home? With flexible loan options and a dedicated Personal Loan Counselor, SIRVA Mortgage can make it easy to enjoy the many advantages of owning a home.
Deciding to rent or buy a home
A question that many people ask when contemplating their future living situation is whether to buy or rent a home. The answer depends on the specific situation.
For instance, if you find a community you really like, with houses that are increasing in value, you will likely want to buy a home. If, however, you are on a short-term assignment with your company, or unsure of the community in which you may want to settle, the option of renting may be a better alternative.
Other personal factors you should consider include:
- Family situation
- Credit history
- Property maintenance responsibilities
To explore the many loan programs available to first time homebuyers, consult a SIRVA Mortgage loan counselor. By knowing all of your options up front, you will be able to make an informed decision about your specific situation.
Advantages to buying a home now instead of renting |  |
Your home will build equity
Rent payments just vanish into your landlord’s pocket. However, your monthly mortgage payment consistently contributes to your home’s equity, which acts as a personal savings account. That can add up to hundreds of thousands of dollars, which can go toward future financial goals like a child’s education or your retirement.
Save with tax-deductible interest and other deductible expenses
The U.S. government allows tax incentives that may make it possible for many homeowners to exceed the standard yearly deduction. The state that the home is located in may also offer the same benefits.
- A tax deduction for the yearly interest paid on primary or vacation homes.* This amount equals a big chunk of the total payments for the first several years.
- A tax deduction for the total amount of the yearly property tax bill.
- When refinancing to consolidate other debts, the interest on the home equity loan is deductible.*
When you take into account the low fixed-rate mortgage programs and tax benefits that come with owning a home, you could be spending less on a mortgage payment than you are on rent.
 Click here to find a rent vs. buy analysis calculator.
Home payments are stable, while rental costs continue to rise
With a fixed-rate mortgage, your payments could be as low – or lower – than rental costs. And unlike rent, which can increase every year, your principal and interest payments will never rise.
You’re eligible for special lending programs
SIRVA Mortgage offers an array of loans designed to help you buy a home, including expanded debt-to-income requirement programs, low or no down payment loans, and products with up to 100% consideration of secondary wage earner’s income. In addition, you may be eligible for a first time buyer closing cost credit.
 Click here to learn more about the different types of mortgage products.
Get a FREE, no-obligation consultation and quick loan pre-approval today. Call SIRVA Mortgage at 1.800.531.3837 or click here to apply online.
*SIRVA does not provide tax advice. For tax advice concerning specific situations, please consult your tax advisor.
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