Buying A Home Versus Renting: Which Makes The Most Sense?

A new house is for sale.

Buying a home gives you the freedom that a rental cannot.

There is a specific reason why being a homeowner is still a big part of the American dream. Everyone wants a lovely place that they can call their own. Although some may say that having a rental feel like home is possible, having a space that you legally own can significantly help you in the long run. As a result, when you buy a home, there is nothing better than having the ability to properly put down roots for not only yourself but your family as well. 

Having Complete Control

When you are a renter, your landlord can always put restrictions on what you can or can’t do in your rental. They may prohibit you from painting the walls, having a pet, or making any changes to the property itself. This can hinder your ability to have your rental space feel like it’s your own. However, with a home that you’ve purchased, none of that applies. You buy control over all the decision-making of the property itself. Buying a home affords you the privilege to make any changes to the property that helps make it feel like home, whether painting each room or updating the appliances.

It’s All About An Investment

Whenever you purchase a home, you are also investing in yourself. The money that you end up paying goes to pay off the landlord’s mortgage when you rent. However, with a property you buy, you end up paying a mortgage that ultimately goes towards paying off the actual house you call home. Once you pay your entire mortgage, that house is all yours. You can sell it, give it away, or do whatever you like with the property, and there are absolutely no limitations. 

A Title Company You Can Trust: Colony Title

At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.

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