Benefits of owning a home vs renting in Summerville, SC

Buying a home, whether it’s your first or fourth, is a major investment and an immense leap from merely renting a property. There are a great deal of advantages that can come with owning a home, especially in Summerville, SC, that you should definitely be aware of while you shop around:

Housing Costs are Fixed
Contrary to renting a home, whose rent can (and will) periodically increase from year to year, your mortgage (especially if the loan is based on a fixed rate) will mostly stay the same. Keep in mind, if you’re a tenant who is also financially responsible for small, household fixes, this will also play a factor in fluctuating costs.  

Access to Tax Incentives
There are plenty of tax-related incentives, breaks and credits that come with owning a home. From a first-time homebuyer’s incentive to credits for those who add environmentally friendly upgrades (i.e. solar panels, irrigation systems, etc.), there are more than a few that work to your advantage.

Build Equity
With renting, you’re essentially giving money to someone else to live, without building any type of savings for you or your family. Once you become the rightful owner of a home, that equity becomes yours and yours alone.

Increased Privacy
Duplexes, high rises and large, communal condominiums were fine when you were in college, but as you get older and start building a family, the need for privacy increases exponentially. Single-family homes and separated properties provide that and then some.

An Investment for the Future
As your children grow, and move out of the house, your home becomes a long-term investment that will undoubtedly pay it forward to the next generation. Holiday visits with grandchildren and other gatherings will make memories for your family that just aren’t as obtainable with rental properties.

Owning a home, whether in Summerville, SC or elsewhere, is an important milestone in a person’s life, so Crescent Homes wants to make sure you have all of the tools and resources necessary before making the transition from “tenant” to “homeowner”.

For more information about the Summerville, SC area, or about the steps needed to take to call the area “home”, contact us today at info@crescenthomes.net.

The Hammocks at Cane Bay
300 Whispering Breeze Lane
Summerville, SC 29483
843.482.0524