dave.hoyle@abr-orlando.com
    407-529-4621

ABR Orlando.comABR Orlando.com

Homes to Buy and Homes for Sale in the Orlando and Orange County Community

  • Home
  • Blog
  • Search
    • Featured Properties
    • Easy Search
    • Advanced Search
    • Address Search
    • Map Search
    • Listing ID Search
    • Agent Search
  • Buy
    • Home Buying Orlando
    • Lender Links
      • HomeBridge Financial Services
      • Caliber Home Loans
  • Sell
    • Home Selling Orlando
    • Premium Property Marketing
    • Matterport 3D Virtual Tours
    • STAGING RESOURCES
      • 5 STAR DESIGN CONSULTATION
      • PODS Discount
      • Orlando Home Staging NAR Guide
      • Sherwin Williams Paint Discounts
  • Golf Homes
    • Alaqua Country Club
    • Bay Hill Club
    • Country Club of Orlando
    • Keenes Pointe Golf club
    • Isleworth Country club
    • Sweetwater Golf and Country Club
    • Heathrow and Legacy Clubs
  • Communities
    • Orlando
    • Longwood
    • College park
    • Colonialtown
    • Baldwin Park
    • Winter Park
    • Windermere
    • Oviedo
    • Dr Phillips
    • Apopka
    • Winter Garden
  • About
    • Meet The Team
  • Contact

Buy vs Rent

Why should I buy, instead of rent?
Answer: You’ll love the feeling of having something that’s all yours – a home where your own personal style will tell the world who you are. A thriving vegetable garden in the backyard, a tiled entryway, a yellow kitchen…when you own, you can do it all your way! But there’s more to owning a home than personal satisfaction. You can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes, too. And interest will compose nearly all of your monthly payment , for over half the number of years you’ll be paying your mortgage. This adds up to hefty savings at the end of each year. And you’re also allowed to deduct the property taxes you pay as a homeowner. If you rent, you write your monthly check and it’s gone forever. Another financial plus in owning a home is the possibility its value will go up through the years.

There are advantages to buying a home versus renting. View these advantages in a financial comparison of buying versus renting in the Buy vs. Rent Calculator.

Savings: Buying

In many cases, the amount of money a renter spends on rent can be about the same as or less than the amount a homeowner spends on a mortgage. With the tax benefit for homeowners, the savings can be significant.

Buy vs. Rent Comparison
The renter starts out paying $800 per month with annual increases of 5% The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000 After 6 years, the homeowner’s payment is lower than the renter’s monthly payment With the tax savings of homeownership, the homeowner’s payment is less than the rental payment after 3 years

——————————————————————————–

Monthly Expenses: Buying

Your rental company takes part of your rent payment to cover certain housing expenses. When you decide to purchase a home, you accept responsibility for paying for these expenses (listed below). They are additional costs to your monthly mortgage payment and should be included in your budget estimates:

  • Property Taxes and Special Assessments
  • Home/Hazard Insurance
  • Utilities
  • Maintenance
  • Home Owner Association (HOA) Fee: Doesn’t apply to all purchases. It pays for trash and snow removal and maintenance of common grounds if applicable.
  • Membership Fee: It may pay for recreational facilities and other services (cable TV).

Looking for an apartment? It can be both exciting – and frustrating! But if you approach the whole process systematically and if you know your rights, apartment hunting doesn’t have to be a hassle. Read through this Renter’s Kit before you begin. And happy hunting!

Before You Start Looking…
Know your rights and responsibilities: Federal law prohibits housing discrimination based on your race, color, national origin, religion, sex, family status, or disability. If you have been trying to rent a home or apartment and you believe your rights have been violated, you can file a fair housing complaint. When you live in an apartment, you have both rights and responsibilities. Be sure you know what’s expected of you – and what you can expect in return.

Figure out what you need: It’s a good idea to think through what you need in an apartment BEFORE you begin shopping. How many bedrooms do you need? Do you need to be close to schools? Do you need parking? Make a list before you begin…that will help you narrow down your search.

  • This field is for validation purposes and should be left unchanged.

Property Search

Featured Properties

No properties found

See more listings

  • Unlimited Access
  • Free Daily Alert
  • Save Search Criteria and Properties
Sign Up
Already registered
Sign In

New Listings

  • Just listed last 10 days
  • Just listed last 5 days
  • Just listed last 2 days

About Abr Orlando

We love working with Buyers and have worked hard to develop the skills necessary to assist our clients. All of us at Accredited Buyers Representative-Orlando LLC are certified as ABR®’s or working towards that and other NAR Designations to help you find your perfect spot. This short video highlights some of the important benefits of working with an ABR® when buying your next home. Education and Experience produce results for our clients.

ABR Orlando
1936 Lee Road Suite 100
Winter Park, FL 32789
Email: dave.hoyle@abr-orlando.com
Phone: 407-529-4621

  

Client Reviews

Connect With Us

© 2022 · abr-orlando.com
Website & Marketing by Nailsoupmedia.com
Privacy Policy | Terms And Conditions | ADA Policy | DMCA Notice

ADA Compliance: In concurrence with the National Association of Realtors guidelines, The ABR Orlando and it's affiliates are committed to providing an accessible website. If you have difficulty accessing content, have difficulty viewing a file on the website, or notice any accessibility problems, please contact us at 407-529-4621 to specify the nature of the accessibility issue and any assistive technology you use. We strive to provide the content you need in the format you require.

Orlando - Longwood - College Park - Colonialtown - Baldwin Park - Winter Park - Windermere - Oviedo - Dr. Phillips - Apopka - Winter Garden

sitemap - Listings Sitemap