If you're having trouble deciding between renting or buying a home, you don't have to worry any longer. The professional loan consultants at Premium Mortgage Corporation suggest that buying a home could be the way to go. Home ownership has its advantages for New York and Vermont residents, from Buffalo and Rochester to Syracuse and Barre.
Research has shown that buying a home is more cost-effective than renting in many regions across the United States. As your loan officer will tell you, mortgage rates have been low for years. Not to mention, your mortgage payments will be locked in at a flat rate, unlike the continually rising rent costs.
Home ownership is an opportunity to own an asset. A house can become a great investment, gradually going up in value over the years. It's also a chance to build up equity, and nothing compares to the pride of paying off a house and officially calling it yours.
If you've found a location you love and you plan to live in the same place for at least five years, buying a house is a smart financial move. It lets you truly settle into a community, and if you have children, it gives them more stability. On top of that, you'll have fewer restrictions and won't have to cooperate with a landlord's policies. Your family can personalize the house and really make it feel like home.
Finally, any good loan consultant will advise you that home ownership is a chance for tax breaks. Property taxes and interest on mortgage rates can be deducted when itemizing federal income taxes.
Ultimately it all comes down to taking a look at your long-term goals. When you choose the loan consultants at Premium Mortgage Corporation, your loan officer will help you make the most well-informed decision possible. If you choose to pursue buying a home, they'll work with you to achieve affordable mortgage rates. Give them a call today at (585) 241-0000, or visit their website to view real estate articles, mortgage calculators, and more.
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2541 Monroe Avenue, Rochester, NY 14618
Equal Housing Lender
Licensed Mortgage Banker NYSDFS