Charles Turner has worked with many clients during the course of his career as a realtor in San Francisco and he understands that each one is looking for something different when it comes to their property transactions. This is why he is quick to point out the various pros and cons of both buying and renting properties, helping his clients to make the decision that is right for them. If you are still undecided about which option is right for you, consider the following advantages of buying a property to help you in making a choice.
Home Values Increase
While the value of a home will be subject to the conditions of the property market at any one time, it is important to note that over a long period the value of a property will tend towards increasing. This can make the house you buy a sound investment, particularly if you intend to move on after a number of years. By building up equity in the property you will often see a larger return on the investment you have made in it if you make the decision to sell.
Further Investment
Many people choose to purchase a property because it gives them the chance to invest further. Anything that improves the property, such as the addition of insulation, the installation of solar panels or any remodeling work, will raise its value and potentially lead to an even high return should you make the decision to sell. Plus, in many cases the work you carry out on the home will serve to lower your bills while living there, particularly if installing energy-efficient technologies. This is not often an option that is open to you when renting.
More Freedom
When renting a property, the things you can do while living there will be limited somewhat by the tenancy agreement that you sign. These limits will differ depending on the property manager, but you will often find that you are not able to decorate the property in the way that you would like or that you face restrictions in terms of keeping pets. When you own a property, none of these restrictions will apply to you and you will have the freedom to do almost anything you want with the property, assuming your work doesn’t cause issues in terms of zoning laws.
Tax Advantages
Charles Turner San Francisco points out that many of his clients in San Francisco have made the decision to purchase a property instead of renting because there are a number of tax advantages associated with buying. For example, many will find that the property tax they pay on their primary residence is deductible when submitting their income taxes, plus there is the added benefits of Capital Gains exclusion for those who have owned their home for a number of years.
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| Charles Turner San Francisco |
Home Values Increase
While the value of a home will be subject to the conditions of the property market at any one time, it is important to note that over a long period the value of a property will tend towards increasing. This can make the house you buy a sound investment, particularly if you intend to move on after a number of years. By building up equity in the property you will often see a larger return on the investment you have made in it if you make the decision to sell.
Further Investment
Many people choose to purchase a property because it gives them the chance to invest further. Anything that improves the property, such as the addition of insulation, the installation of solar panels or any remodeling work, will raise its value and potentially lead to an even high return should you make the decision to sell. Plus, in many cases the work you carry out on the home will serve to lower your bills while living there, particularly if installing energy-efficient technologies. This is not often an option that is open to you when renting.
More Freedom
When renting a property, the things you can do while living there will be limited somewhat by the tenancy agreement that you sign. These limits will differ depending on the property manager, but you will often find that you are not able to decorate the property in the way that you would like or that you face restrictions in terms of keeping pets. When you own a property, none of these restrictions will apply to you and you will have the freedom to do almost anything you want with the property, assuming your work doesn’t cause issues in terms of zoning laws.
Tax Advantages
Charles Turner San Francisco points out that many of his clients in San Francisco have made the decision to purchase a property instead of renting because there are a number of tax advantages associated with buying. For example, many will find that the property tax they pay on their primary residence is deductible when submitting their income taxes, plus there is the added benefits of Capital Gains exclusion for those who have owned their home for a number of years.
