There are quite a few reasons owning a home makes better financial sense than renting.

 Income Tax Savings

As a home owner, you can deduct your mortgage interest from your income tax - which can make a difference of $2,000+ per year.  If you take the tax savings into consideration, you can own your home (and probably with more room) at a cheaper rate than renting.

 Equity

When you pay rent, th emoney is gone forever....into the pocket of the landlord.  However, when you own a home, you are building equity.  Equity in a home is seen as one of the most reliable & safest ways to invest and build your finanical strength.

Investment Tool

As you will discover in working with a Mortgage Planner over the years, your mortgage can be used as a tool for which to grow your net worth.  Speaking to a Mortgage Planner will help you find strategies that will allow you to take full advantage of your mortgage.

It is extremely important that prior to searching for a home, you consult a Mortgage Planner first.

For one, it's necessary to ensure prequalification for a mortgage.  (Or if you were planning to purchase a home with cash - a mortgage planner can show you better ways for which to invest those funds).

Secondly, this allows you to form a strategy that will help you build net worth for your future financial goals.  Not all mortgages are created equal.. and knowing the best way to structure the mortgage is immensely valuable.

Lastly, this consultation allows you to have a very clear picture of how much you can afford, how much of a down payment you will need (if anything), what your payment will be, and the type of loan to obtain.

And, in the event you need a bit more work before you can obtain a prequalification, your Mortgage Planner can advise you on what actions to take to get you into a better position to purchase a new home.