Marina View Apartments
4 Great Reasons to Rent:
1. Renting can Save You Money: According to popular myth, renters are just throwing their money away. But, the reality is that when you buy aa home, you're paying closing costs, mortgage interest, property taxes, insurance and maintenance - costs that return nothing on your investment. You'd be better of banking that money or putting into the stock market. In fact, a recent study by Fidelity Investments indicates that stocks provided investors with nearly 4.6% higher average returns in the past 45 years than real estate.
2. Homeowner's Tax Deductions are overstated: Conventional wisdom says that buying a home saves you money becuase the mortgage interest is tax-deductable. But a study by the National Multi-Housing Council of American, points out that half of homeowners don't even get a break because their mortgage interest and property taxes don't exceed the standard federal tax deduction.
3. More Options are available to Renters: Fewer house and condos are selling, so more owners are converting their properties into rentals to lure prospective tenants. Vacany rates have increased such that investors are cutting their rates to attract renters. And don't forget that modern apartments offer amenities thatmay be unaffordable in a new home.
4. Renting gives you Flexibilty: Buying a home is a big commitment. If you have more to move suddenly, your property value would have to increase by at least 10% for you to recover your sales costs (which typically takes 5 years). Renting allows you the freedom and mobility you need so that you don't have to tie yourself to a massive home investment.
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