In Hoboken, the average rent hovers around $3,905 a month, which adds up to almost $47k a year! We’ve heard plenty of debate on whether or not now is a good time to buy a home over continuing to rent. 

The Jill Biggs Group is here to help make it possible for you to buy a home, especially if you're throwing away money every month on rent. 

Here are three reasons why you should consider buying over renting in New Jersey.

Building personal Wealth

When you own a home, every mortgage payment builds your equity and personal wealth. Paying rent gets you a 0% return and lines the pockets of a landlord. Equity can be leveraged to purchase more real estate as income property. Even with short-term downturns, real estate is a reliable growing investment over time.

Tax Benefits

Buying a home may be the most expensive and important purchase you make in your life, but the IRS provides several tax breaks to make homeownership more affordable, including those for mortgage interest, mortgage points, and private mortgage insurance (PMI).

Homeownership comes with many tax benefits that the average person may not be aware of. For example: When a homeowner also works from home, you can write off part of your homeownership expenses.

Affordable Financing Options

Twenty percent minimum down payments are a myth! Here at the Jill Biggs Group, we're firm believers in the idea that if you can afford to rent, you can afford to buy. We can help connect you with low- and no-down payment mortgages so you can stop renting and start owning!

Conclusion

Owning a home offers economic and financial benefits that renting does not hold a candle to. 
Shoot us an email at jill@jillbiggsgroup.com or give us a call at (973) 495-6038 to find out if buying a home is attainable for you!