Why it Makes Sense to Buy a Home and Stop Renting

Greenville is known for the quality of its public school system, stimulating cultural activities and beautiful, safe neighborhoods. It is also a city that provides some of the best revitalized urban living areas in the South. A leisurely walk down Main Street proves that “urban renewal” is taken seriously by Greenville residents.

Does it make more sense to rent or buy in Greenville?

It’s Yours!

Paint the bedroom walls puce and the kitchen chartreuse, play drums at 2 AM, let the dog run free in the back yard and dig a hole to China. You own your home; it’s your domain. No landlords dictate what you can and cannot do. This is the most popular reason why people prefer owning over renting: the freedom, the independence.

Home Values Increase over Time

That’s right, even in the toughest of times, when the graphs show more valleys than peaks, it has always held true that single family residences increase in value in the long run. Investing in a home is just that, an investment that will provide a better return for one’s money than most of the other options.

The IRS Smiles Down on You

Your home is your shelter, “tax” shelter that is. The interest incurred on your home loan is tax deductible and most of your monthly mortgage payment is, indeed, interest. Ah, and lest we forget, your property tax on a first home purchase is also deductible from your income tax. Nice. And then there is that old Capital Gains Tax so hated by past generations. A couple who has lived in their home for at least two years can sell their home with up to $500,000 profit, and Uncle Sam says that profit is not taxable. Sweet.

Equity Builder

Every monthly mortgage payment builds equity in your home. More equity translates into more assets, more wealth, and security. More equity also means that one can borrow on that equity for home improvements, tuition, financing a business and the interest rate is tax deductible. Often, homeowners pay off their credit card debt with a home equity loan because credit card interest is not tax deductible.

 

Article source: GREENVILLE, SC: Why it Makes Sense to Buy a Home and Stop Renting

Canebrake homes for sale in Greer SC

Canebrake

Canebrake is located in Greer.  Most of the homes in Canebrake were built in the 80’s so the subdivision is well established.  The trees are grown and beautiful, especially in the Fall.  There are about 350 homes in Canebrake and they range from about $110,000 to $200,000 with an average of about $150,000.  The subdivision is located right across the street from the award winning Buena Vista Elementary school.  Needless to say there are a lot of kids in Canebrake.  Canebrake has many amenities including a club house and playground that overlook a small pond.  There is also a pool in the subdivision.  The pool competes in swim races with the kids from some of the neighboring subdivisions.

Canebrake is in a great location not far from the intersection of Pelham road and I85.

To view all available listings in Canebrake just click here.

Overbrook homes in Greenville SC

Overbrook

Overbrook is located north east of Downtown Main street.  The subdivision is in the Historic district of downtown Greenville.  If you want to live in the downtown area and want to stay in a reasonable price range, Overbrook may be a good option for you.  The home prices range from about $80,000 to $400,000 with the average price being around $140,000.  Many of the homes were built in the 1950’s and some were built in the 20’s.  Needless to say, many of these homes have a lot of character and charm.  Overbrook is filled with mature trees that compliment the homes as well.  You could walk to downtown main street, but it is only a 3 minute drive.

To see all homes available in Overbrook just click here.