What are the benefits to buying, compared to renting?

An Orlando area home is an investment. When you write your monthly rent check, that money is gone forever.  However, when you own your home, you can deduct the cost of your mortgage loan interest from your taxes. This will save you a lot of money each year, because the majority of your monthly payment for the first few years of your mortgage is applied toward interest.

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You can also deduct your property taxes. Plus, the principal amount that you pay on your mortgage is like an automatic savings account.  In addition, during most times, the value of your home may go up over the years.  You'll want to consult an Orlando real estate agent to make sure you're making a good purchase. 

Finally, you'll enjoy having something that's yours - a home where your own personal style will tell the world who you are.  And that pride in ownership is a great feeling! There's a great book called The Automatic Millionaire Homeowner, by David Bach, and it illustrates many of these points, as well as how you can build wealth by being a homeowner.

Read Also: Need Help Purchasing Your First Home?

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Down Payment Assistance is available in Orlando and throughout Central Florida!

Down Payment Assistance Programs are available from Seminole County, Orange County, Volusia County, the city of Orlando and other Central Florida communities, to eligible first time homebuyers for the purchase of a new or existing home. Depending on the gross household income, assistance may be $10,000, $20,000 or even $30,000, although programs may vary from county to county or city to city. 

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