The decision to continue renting or to buy can be a confusing one. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that some people continue renting because of the perceived flexibility of moving almost as soon as you decide. Although moving before a lease is up can cost you money, some continue renting because they don’t enjoy yard work and don’t want the responsibility that goes with home ownership. Maybe the strongest reason for buying a home is the financial security you build as you pay your mortgage. There are short term and long-term tax advantages to homeownership. The mortgage interest and real estate taxes are tax deductible, which allows you to subtract part of your housing-related expenses from your taxable income, which could reduce your tax bill. Check out below to see what sold in Briarwood in December 2017:
24647 Edgewood Court, Novi: 2 bedrooms, 2.1 bathrooms, 1,638 sq. feet, 2 car garage, Sold Price: $290,000
Briarwood Home Sold
Buying a home is also good use of your money. As you make payments over time, the equity increases. When renting, you get no return for your money. Once the money is spent, it’s gone. For more information on Briarwood, or similar Northville or Novi neighborhoods such as Country Club Village, Blue Heron Pointe and Hickory Creek, contact The DiMora Team today at 248-505-7728 or firstname.lastname@example.org.