As an actor, we appreciate a lot of what Jeff Goldblum has done in his career. But as a spokesperson, well… both he and Apartments.com have a very one-sided way of looking at the pro’s and con’s of renting versus owning a home.
Most experts agree that buying a home, with a monthly mortgage payment that is within your budget, is a safe investment. Many find home ownership not just profitable, but also refreshing and enjoyable when compared to renting.
Here are some things to think about that aren’t discussed in the commercial:
- If owning a home were such a bad idea, why would your landlord own the one you currently live in?
- There are multiple tax deductions that can you can take as a home owner that are simply not available to renters.
- The “bone crushing debt” they mention is very debatable. Do you pay your rent on time each month? If that’s the case, then what’s the difference between writing a monthly check to your landlord and writing a monthly check for your mortgage?
- As you pay off your mortgage, you build equity in your home. There’s no equivalent to that when it comes to renting.
- Home ownership locks you down? Hardly! Many people buy homes, and then later, decide to rent them out because of a job change or they want to live somewhere else that’s less expensive. In this scenario, owning a home can actually earn you extra money!
With rates as low as they are right now, there are numerous other benefits to owning a home besides the above. If you’re interested in speaking with a HomeBridge mortgage professional, you can find a list of our offices nationwide by clicking here.
HomeBridge is licensed in 49 states, in addition to Washington, D.C. If there isn’t a branch in a convenient location for you, our National Lending Center would be happy to help you.