Why Buying Can Be Cheaper than Renting a Home on Lake Nacimiento!

Those searching for a vacation home on Lake Nacimiento will often consider the question of renting versus buying.  They wonder if the value is really there to buy a home that they won’t live in all year long, yet know that renting doesn’t offer the same perks as buying.

As a Lake Nacimiento Real Estate agent, I always encourage those interested in looking at homes in Oak Shores or Heritage Ranch to consider their use for the home.  If they’re only considering spending two weeks out of the year in their vacation home, renting is probably the way they’ll want to go.  However, for those who are considering spending a part of the year soaking up our beautiful scenery and peaceful setting; buying can be a great investment!

In fact, buying can still be a less expensive option than renting!  According to Trulia Chief Economist Jed Kolko. mortgage rates would have to climb to more than 10% nationally to tip the market in favor of renting.  Kolko goes on to say that on the national average, it’s still 35% cheaper to buy a home than it is to rent!

I’ve outlined six additional perks of buying a Lake Nacimiento home below that may help you as you consider buying versus renting.

1. You can determine your homes’ energy efficiency–  From adding insulation, to upgrading your air conditioner or hot water tank; you are in control of the energy efficiency of your home.  Making these bigger changes, that you wouldn’t make in a renting situation, will save you money in the long run and will make you feel better about what you’re doing for the environment.

2. You can customize your space– This is an important part in making a house feel like a home.  You don’t have to worry about paint colors, what you put on the walls, and even have the freedom to knock out walls to reconfigure a space!  Owning a home means you have endless possibilities to make your Lake Nacimiento home exactly what you envision.

3. Homeowners buy less furniture– For the most part, homeowners will stay in a space longer than those who rent.  Moving every few years means you’re constantly investing in new furniture for a place, whereas in owning a home; you can get the furniture that fits your space and feel comfortable with your decisions for years.

4. You know what you’ll be paying from year to year– Unlike rent, a fixed mortgage means your monthly payment won’t change.  With inflation, rents oftentimes increase each year and you can get caught with paying more than you imagined.  A fixed mortgage is great in allowing you to determine your yearly budget and stick to it.

5. Tax deductions are available for homeowners– While the main tax perk of owning a home is being able to deduct mortgage interest payments, there are other deductions available.  For instance, eligible expenses such as energy efficient improvements, can provide an even greater tax benefit.

6. You can take advantage of currently low interest rates and prices– Last but certainly not least, the current home prices and low mortgage rates are a huge advantage of buying a Lake Nacimiento home now.  Since mortgage rates are on the rise, buying now can help you lock in lower rates.

I hope these points and learning more about the current housing market will help guide you in your decision to buy or rent a home on Lake Nacimiento!

As always, I’m here to answer any questions you have about the Lake Nacimiento Real Estate market and look forward to hearing from you!

Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty

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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.

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