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Buying VS. Leasing

No one can predict the future but if you look at the history of inflationary trends it is easy to realize that rents, in general, do not come down.  Also consider the many disadvantages that leases impose on tenants: automatic rent escalation clauses, security deposits, intimidating and limiting lease caveats.  Property ownership eliminates lease provisions and puts those inflationary trends to work for you instead of against you. 

Consider also the following points that accrue to the benefit of property owners:

  • Your mortgage payment is often less expensive than rental rates.
  • Your mortgage payment will someday disappear or be “zero” from inception if you buy for cash.
  • You will receive no rent increases or lease renewal hassles when you are your own landlord.
  • You will be able to list the property as an asset on personal balance sheets.
  • You will enjoy an increase in the value of the property (not guaranteed: assumes that real estate will continue to appreciate in value, as has been the trend for decades).
  • You will receive tax benefits such as depreciation and the deductibility of mortgage interest rates (not guaranteed: consult with your tax professional).
  • Amenities and other property improvements within your unit can be added to accommodate your specific needs and these will increase the value of your real estate, not your landlord’s real estate.
  • Unit owners enjoy a partnership participation in the management and maintenance  decisions regarding the property. 
  • Expenses for improvements can be recaptured at the time of the sale of the property, rather than lost as is the case on a lease property.
  • And last but not least: PRIDE OF OWNERSHIP!