For most people, there comes a point in life when it’s time to decide whether buying or renting a house is the better option. While there are a few similarities between the two, there are also some major differences that must be thoroughly evaluated before coming to a conclusion. The real estate specialists at Keller Williams Realty in Concord, NC, have helped numerous clients realize and accomplish their dreams of owning a home.

The company understands that buying a house is a significant financial commitment and explains the biggest changes you’ll see transitioning from renter to homeowner:

• Equity: As a homeowner, the money you pay every month to have a roof over your head is being invested into your future. You are building equity that turns your property into a valuable asset. On the other hand, paying rent has no investment opportunity and only builds equity for the actual real estate owner.
• Maintenance: When it comes to maintaining your living environment, you will have much more responsibility as a homeowner than when you simply rent a house. You will have to ensure your property is in top physical condition for safety and aesthetic reasons.
• Renovations: One of the biggest perks of buying a house is that you get the chance to make it all your own. You will have the ability to decorate and renovate exactly how you want, making your living space the perfect reflection of your personal style and taste. Renting doesn’t allow for this.
• Tax Deductions: Purchasing property also comes with added real estate tax benefits. There are several deductions that homeowners can take out of their taxes that renters don’t have the luxury of utilizing. 

It’s important to remember that everyone’s situation is unique and only you can determine whether you’re better off buying or renting a house. Should you decide that buying a house is the right choice, the team at Keller Williams Realty will be happy to guide you through the process. You can contact Leaural Lube at (704) 467-0685 or Amber Lube at (704) 577-5966.