Recently we bought the RE/MAX office we work out of, after moving some furniture around one day we all went to dinner. My 10 year old nephew was sitting next to me and engaged me in this conversation:
10 year old (very smart) nephew: "So, Aunt K, you bought the office with mommy, right? "You bought RE/MAX?"
Me: "Yes, we bought the RE/MAX office together"
10 year old (adorable) nephew: "So, now, you own that office and all of RE/MAX?!"
Me: "No, not quite, we bought the RE/MAX franchise of RE/MAX Access but we are renting the office space...."
10 year old (very wise for his 10 years) nephew: *disgusted look* turns around to his mother and says "Your RENTING?!!"
He was so disturbed you would have thought my sister had announced Christmas was cancelled. We all thought it hysterical though that his 10 year old brain got it that it was a much wiser decision to buy vs. rent (he is exceptionally smart though and NO, I am not partial).
So, we all agree there are exceptions to when it's best to rent vs. buy, right? The obvious reasons are 1. When it's not for sale, 2. When it's way too expensive.
BUT, what are the obvious reasons for buying?
I count way more than 2.
1. Mortgage Interest deductions
2. Appreciation - although Real Estate moves in cycles, it has appreciated consistently.
3. Property Tax deductions
4. Pride of ownership - you can do WHATEVER you want to the house (within reason if you have an HOA), it's yours!
5. Building equity versus flushing your money down the toilet
6. Up till July 1st, 2009 the $7500 interest free tax credit (loan)
These are just a few of the many, many reasons to buy vs. rent in my opinion, what are yours?
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Looking for information on San Antonio Real Estate or property management? www.KristinMoran.com to search for homes in San Antonio or anywhere throughout South Texas.
Kristin Moran, RE/MAX Access - "Sisters that sell", (210)313-7397, KristinMoran@satx.rr.com
Kristin Moran
Specializing in San Antonio & surrounding cities
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RE/MAX Access - Realtor®/Owner
KristinMoran@Remax.net 210.313.7397 www.SistersThatSell.com
Buy a home from me, use the truck to move for free!
