There are many advantages to buying a new home vs renting. Here are some things to consider. If you are renting a residence, your landlord gets rich. Rent across the nation continues to go sky high without any sign of stopping. Your wealth does not build; theirs does. Often water, trash, and utilities are not included in rents these days. If you add mandatory renter’s insurance on top of that, it’s a bit overwhelming. If you own a home, you can build your equity and credit. Landlords can do what they wish including selling the property frequently which means frequent moves for you. As a result, you’ll have to come up with hefty deposits and first/last rent repeatedly. If you own a home, there is more stability financially depending upon your mortgage. Plus you’ll enjoy tax benefits that renters cannot. Renters cannot alter their apartments to reflect their style. You’ll be stuck with the boring standard issue white walls and beige everything. That’s pretty boring. When you own your own home, you can make modifications to reflect your personal taste. Upgrades are good investments in your property’s value. And what about a backyard?! Most apartments don’t have them. Own a home and have a beautiful backyard for the kids and your pets to play. At Melia Homes, we want you to experience the best of home including financial peace of mind. We have gorgeous homes throughout Southern California that we know you’ll love. Contact us today!