Calgary Real Estate Buying vs Renting

Posted by Gagan Bilga on Monday, February 2nd, 2015 at 8:26am.

If you have been looking through the Calgary listings and contemplating your housing options, you should be aware of the advantages that are associated with owning your own home. Calgary Real Estate can help you find the perfect home of your dreams once you realize that Calgary renting is not the most beneficial housing option. Many Calgary homes are available for individuals that want to gain the benefits associated with home ownership and move away from rental properties.

One of the most impactful benefits that can be gained from home ownership is an investment in your future. Every payment that you make toward your home allows you to become one step closer to attaining complete ownership. All of the improvements that you make to your home only increase your property value and the equity that is in your home. However, monthly rent payments do not have the same effect. You never gain control of the home even though you are making monthly payments. Over time you could be paying a lot of money toward a home, but you will never have a property to show for the investment you have made. Instead of wasting monthly rental payments, contact Calgary Real Estate and move one step closer to home ownership. 

Other advantages that can come from owning a home are tax advantages. Every year when taxes are due if you are a homeowner you will be able to make substantial deductions. Homeowners have the option to deduct real estate property taxes, the interest on the mortgage and property insurance payments. Therefore, the added costs that are associated with homeownership can be written off as tax deductions yearly. This makes homeownership the only logical option, because all the added expenses can be written off as tax exemptions. 

A benefit of home ownership that is truly only understood by individuals that have rented, is the freedom and stability that can be attained by owning your home. Renters have to ask permission before doing anything to the home they are renting. Even small activities like painting or gardening have to be approved by your landlord first. However, if you consult Calgary Real Estate and buy your own home you have the freedom to make any changes or alterations to your home at any time. As the owner of your home you will also enjoy the knowledge that you are in control of your housing situation. The accomplishment of becoming a homeowner is a feeling that can’t be described.

by The Gagan Bilga Team

Leave a Comment