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Renting or Owning Murrieta Real Estate?

If you are currently renting your home, you may be interested in knowing some of the the advantages and disadvantages of owning Murrieta real estate. Some of these concepts will be review for most of you and you may have reasons of your own for wanting to own a home rather than renting from a corporation or owner / landlord.

Financial advisors usually agree that buying a home is a good way to start building equity. You also reap the benefits of tax incentives and the establishment of financial security. Although the initial purchase of your new Murrieta home may seem expensive, you are the owner and reap the benefits of owning the Murrieta real estate as the value increases. If you decide to sell your home, the initial investment in your home usually pays off. Remember to think long term, the Murrieta real estate market, like other real estate markets around the United States goes through up and down cycles.

When you are renting a home, you are not vested in the value of the real estate. Also, you are at the mercy of either a corporate or personal landlord that can raise your rent at any time. Like home value, rent in Murrieta and most communities always goes up. The purchase of a Murrieta real estate with a fixed interest rate will get you a steady payment that isn't subject to the elements of rental housing. In addition, when you are renting a home, your rent goes to pay of someone else's mortgage, not your own.

Flexibility and pride of ownership are two good reasons to own rather than rent. When you own your home, you can make the changes you want (within code) to your Murrieta home without asking a landlord. Through ownership, you retain the increased value that these changes may add to your home's value. Ownership gives you the flexibility and pride to be the sole decision maker when making changes to the Murrieta real estate that you own.

On the other side of the coin there are also reasons to rent. If you are planning on living in Murrieta for a short period of time it may be wiser to rent. Depending on Murrieta real estate market conditions, it's possible that a home purchase for a year or two will not provide a financial benefit to you. Learning more about the Murrieta real estate market will help you make this decision. Another benefit of renting is the cost of maintenance on your Murrieta home. Renter's have the advantage of not worrying about mowing the lawn, fixing household plumbing, electricity and many more home owner responsibilities.

If you need any information on Murrieta Real Estate or Property please check our Murrieta Homes section on this website or contact us at any time.