Busting Homebuying Myths: Is it Better to Buy or Rent?

Normandy 3.9.17.png

There are a lot of myths which fly around the idea of buying a home; and one of them that many people have bought into is that renting is better than buying a home. So today, as homebuilders in DFW, Normandy Homes is going to share the benefits of buying one of the new homes in DFW rather than renting a home.

Predictable Monthly Payments

One of the best reasons as to why it’s better to buy than it is to rent is because you will know how much you will have to pay every month until your home is paid off. When you rent, the landlord could choose to increase the monthly rent at the end of each lease period, and they could increase it as much as they want to! 

Tax Benefits

While you still have to pay taxes such as property tax, it’s tax-deductible. The biggest tax benefit you get will come from the interest you pay on your mortgage. This way you get to keep more of your hard-earned money. 

It’s Actually Cheaper

Sure, the upfront cost of buying one of the new homes in DFW may be more, but in the long run, you’re actually going to be paying less. Plus, mortgage rates are still fairly low, so you should be able to get a rate that keeps your payments lower than the cost of monthly rent! 

Built-in Rainy Day Fund

Owning a home gives you the opportunity to borrow money on the equity you build up by paying your mortgage. That means that if an emergency should arise, you’ll be able to secure a home equity loan with low interest rates.

These are just a few of the many benefits of buying a home instead of renting. Are you ready to stop renting and start owning? If so, contact Normandy Homes today, and we’ll gladly tell you all about our new homes in DFW! While you’re here, explore our website and see why Normandy Homes is one of the most preferred homebuilders in DFW.