Friday, June 18, 2010

Why Rent in Tampa, Florida When You Can Buy?

Many people have yet to take full advantage of the buyer’s real estate market that still exists today in Tampa, Florida. While renting seems to be an easy option for many individuals, the benefits of home ownership far outweigh the benefits of renting. Drastically reduced home prices combined with historically low interest rates make this a fantastic time to buy.

Take a moment to consider the real estate facts. When renting a home, every monthly payment is going to pay off your landlord’s mortgage. Not one dime is going into paying off anything for you. By making the sound investment decision, every time you make that monthly payment, you are making an investment in your own future. Not only does mortgage debt get reduced, but your credit worthiness is increased which is an absolute must in today’s credit driven society. Additionally, homeowners enjoy tax benefits such as property tax deductions when their taxes are filed. Renters receive no benefits from a tax standpoint whatsoever.

There are not only tangible benefits to be considered, there are also intangible benefits to homeownership that are immeasurable. There is a real feeling of comfort and satisfaction in buying a home, and fixing it up to make it just the way you want it. You just can’t do that when living in someone else’s property. Many relocating to the Tampa Bay area, military personnel, and University of Tampa students’ families are jumping in to own rather than to rent, realizing the financial benefits. Even if some of these individuals will move on eventually, the overall financial landscape dictates buying rather than renting, and they know it.

Bear in mind that these rock-bottom real estate prices will not be here forever either. Inventory is starting to dry up, and once it does, prices will begin to increase once again. The old adage, “buy low and sell high” comes to mind.

Join the ranks of smart investors who are taking advantage of today’s buyers market. Local, national and international real estate investors are already making the most of the opportunities that exist in this real estate market. Why not join them?

Stop investing in your landlord’s happy retirement, and start investing in yours! It just makes good financial sense. Contact a real estate professional at SI Real Estate today at (813) 631-5144 or to find out more about how you too can invest in the real estate market while the time is right.