Homeownership Benefits You Don’t Get From Renting

Homeownership Benefits You Don’t Get From Renting

Having a roof over your head and a place to call your home is one of the basic needs for survival. That comes in different forms for different people, but owning a home and renting a property are two of the most common ways people shelter themselves from the elements. While similar in some cases, there are some real benefits that you get as a homeowner that you don’t get as a renter.

Homeownership Benefits You Don’t Get From Renting: Long-Term Equity

A lot of people tend to talk about a home as being an investment. Unless you’re renting out a portion of your home, that’s not technically true, since an investment is something that’s making you money. That doesn’t mean that it can’t make you money later on though. One of the advantages of being a homeowner is the ability to build long-term equity in your home by improving its value and taking advantage of positive market fluctuations. If you do it right, you should be able to sell your home for a profit when the time comes.

Tax Benefits

No one likes to pay taxes, and a lot of people feel like they’re paying more than they should have to. If you’re a homeowner who feels that way, you may be in luck. There are a few different tax benefits that come with owning a home. Some of them, like deducting your mortgage interest, can help offset the cost of owning a home at least a little. Others may be related to home improvement projects. For example, if you install solar panels, you can get back 26% of the cost through solar tax credits.

Homeownership Benefits You Don’t Get From Renting: Customizing Your Home

Some landlords have rules about what you can and can’t do to their property. You have no such issues to worry about as a homeowner. When you own the property, you have the freedom to make changes to your home to suit your preferences. You can change the floorplan, repaint, redo the floors, add windows, and much more. Want a new bathroom? All you have to do is create a plan and come up with the funds for it.

Being a homeowner comes with a much larger upfront cost, and the ongoing expenses are generally much more significant too, if you factor in things like mortgage payments, insurance, and general maintenance. That said, things like building long-term equity, tax breaks, and the ability to customize your home without a landlord breathing down your neck are just a few of the advantages that come with the territory of being a homeowner. If you’re interested in making that transition, be sure to check out the resources that are available to first-time homeowners before you get started.

Read this next: What Matters Most When Getting Your First Mortgage

 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

 



 

$5,600,000
Single Family Home For Sale
Pending
5
BEDS
6
TOTAL BATHS
7,000
SQFT
3336 West Riverside Dr
Fort Myers, FL 33901
Riverside Subdivision
New Listing - a week online
$1,795,000
Land For Sale
Active
0.4175
ACRES
LEE
COUNTY
3508 Stuart Ct
Fort Myers, FL 33901
York Manor Subdivision
$5,800,000
Land For Sale
Active
1.3945
ACRES
LEE
COUNTY
1215 & 1233 Braman Ave
Fort Myers, FL 33901
Fort Myers Subdivision
$15,950,000
Single Family Home For Sale
Active
4
BEDS
9
TOTAL BATHS
10,033
SQFT
1240 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 2 weeks online
$890,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
3,467
SQFT
1249 Osceola Dr
Fort Myers, FL 33901
Riverside Subdivision
$750,000
Single Family Home For Sale
Pending With Contingencies
4
BEDS
2
TOTAL BATHS
2,173
SQFT
1250 Braman Ave
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$2,450,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
4
TOTAL BATHS
3,138
SQFT
1209 Coconut Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 2 weeks online
$1,595,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
3,848
SQFT
1266 Gasparilla Dr
Fort Myers, FL 33901
York Manor Subdivision
Price Change - 17 hours ago
$620,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,503
SQFT
1362 Braman Avenue
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$1,995,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,684
SQFT
3232 Mcgregor Blvd
Fort Myers, FL 33901
Riverside Subdivision
New Listing - 3 days online
$1,377,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,589
SQFT
1344 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
$475,000
Single Family Home For Sale
Pending
4
BEDS
2
TOTAL BATHS
2,542
SQFT
1377 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
Price Change - 3 days ago
$650,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
1,950
SQFT
1250 Sunbury Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision
$6,000,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
7,719
SQFT
2844 Valencia Way
Fort Myers, FL 33901
Lynns Add Subdivision
New Listing - 5 hours online
$989,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,829
SQFT
1388 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
Price Change - 2 weeks ago
$499,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
1,784
SQFT
1414 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 3 weeks online
$5,900,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
5,093
SQFT
3914 W Riverside Dr
Fort Myers, FL 33901
Fort Myers Subdivision
Price Change - 4 days ago
$1,385,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,848
SQFT
1434 Alhambra Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 4 weeks online
$3,500,000
Single Family Home For Sale
Pending With Contingencies
5
BEDS
6
TOTAL BATHS
3,470
SQFT
3954 W Riverside Dr
Fort Myers, FL 33901
Seminole Estates Subdivision

 

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