Greenville is known for the quality of its public school system, stimulating cultural activities and beautiful, safe neighborhoods. It is also a city that provides some of the best revitalized urban living areas in the South. A leisurely walk down Main Street proves that "urban renewal" is taken seriously by Greenville residents.
Does it make more sense to rent or buy in Greenville?
It's Yours!
Paint the bedroom walls puce and the kitchen chartreuse, play drums at 2 AM, let the dog run free in the back yard and dig a hole to China. You own your home; it's your domain. No landlords dictate what you can and cannot do. This is the most popular reason why people prefer owning over renting: the freedom, the independence.
Home Values Increase over Time
That's right, even in the toughest of times, when the graphs show more valleys than peaks, it has always held true that single family residences increase in value in the long run. Investing in a home is just that, an investment that will provide a better return for one's money than most of the other options.
The IRS Smiles Down on You
Your home is your shelter, "tax" shelter that is. The interest incurred on your home loan is tax deductible and most of your monthly mortgage payment is, indeed, interest. Ah, and lest we forget, your property tax on a first home purchase is also deductible from your income tax. Nice. And then there is that old Capital Gains Tax so hated by past generations. A couple who has lived in their home for at least two years can sell their home with up to $500,000 profit, and Uncle Sam says that profit is not taxable. Sweet.
Equity Builder
Every monthly mortgage payment builds equity in your home. More equity translates into more assets, more wealth, and security. More equity also means that one can borrow on that equity for home improvements, tuition, financing a business and the interest rate is tax deductible. Often, homeowners pay off their credit card debt with a home equity loan because credit card interest is not tax deductible.
