
Here's what they have to say.
Owning a Home vs. Renting
If you’ve recently decided to make the transition from renter to homeowner, you are about to make an important investment in your long-term financial wellbeing. Still on the fence? Consider the following benefits. Owning your own home can allow you to:
Build EquityWhen you purchase your own home and make mortgage payments, you accumulate equity in the property. You may borrow against this equity or convert it into cash when you eventually sell your property.
Stabilize Housing CostsWhile rent typically increases from year to year, with fixed-rate and some variable-rate mortgages your payments remain unchanged throughout the term of the financing. The impact of inflation over the years means you pay the same amount, but in devalued dollars.
Profit from AppreciationHousing historically increases in value over time – which is as good as money in the bank for the homeowner. At the same time as you build equity by making mortgage payments, what you can get when you sell your home will likely increase over the long term.
Enjoy Tax BenefitsHomeowners can enjoy tax benefits not available to renters. Portions of the interest paid on your mortgage may be tax deductible, and capital gains when you sell your home are in most cases tax exempt – your Invis Mortgage Consultant can provide you with more information and guidance.
Ultimately, buying a home isn’t only about money. Home ownership makes it easier to put down roots in your community, and can give you a new sense of pride in your surroundings. You have full freedom to renovate your space to fit neatly with your family’s lifestyle.
Talk to your Invis Mortgage Consultant today about your home financing options.
About Invis
Invis is one of Canada's largest mortgage brokerage firms with a national team of over 600 mortgage consultants. Invis Mortgage Consultants provide unbiased financial analysis, mortgage sourcing and mortgage advice for both first time homebuyers and repeat buyers. Invis arranged more than $5.5 billion in mortgages in 2005.
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