• Darren Ferlisi
    Mortgage Loan Originator
    NMLS ID# 139611
    Office Phone: (240) 415-5015
    Cell Phone: (301) 448-0749
    Email: dferlisi@ihmcloans.com

  • Owning vs Renting

  • Why Rent When You Can Buy!

    Owning vs. Renting can be a confusing decision. There are advantages to renting when we take that first step towards independence, such as less responsibility when dealing with repairs and learning how to budget your finances properly.  However, there will come a time in your life when homeownership is the right choice for you and your family.

    Presenting five advantages of homeownership:

    1). You can build equity in your home – in an apartment!

    2). The interest portion of your mortgage payment may be tax deductible* – No portion of a rent payment is tax deductible.

    3). The principal and interest payments of a fixed-rate mortgage never increase – Rent payments almost always increase when the lease is renewed.

    4). In a single family home, you have more privacy and don’t hear our neighbors as much – In an apartment, you share walls and the floor or ceiling or both with your neighbors, which can be noisy.

    5). You have the freedom to decorate, make improvements and add security features in your own home – In an apartment or rental property, you have to live with what the landlord provides.

    *consult your tax advisor for complete details

    Tax Advantages

    Renting – NONE

    Owning – YES – there may be tax deductions for mortgage interest paid, please consult with a tax advisor.

    Security

    Renting – NONE – you can be given a notice to vacate the property.

    Owning – YES – this is your home until you choose to sell the property.

    Inflation Protection

    Renting – NONE – your rent may increase

    Owning – YES – with a fixed rate mortgage our principal and interest payment will remain the same for the life of the mortgage.

    Investment

    Renting – NONE

    Owning – YES – the value of the property has great potential to increase in time and will benefit you not a landlord.

    Download this informational flyer on buying a home vs. renting.