4 Reasons to Buy a Home in Dallas Instead of Rent

If you’ve been a renter for a significant length of time, the idea of buying a home in Dallas has likely crossed your mind at least once or twice. After all, the cost of renting in Dallas is on the rise. In fact, the average rental price in northern Texas is up 4 percent from last year, marking the largest growth rate ever reported by MPF Research. In the sought after downtown and Uptown areas of Dallas, the newest apartments are listed at an average of $1,800 per month.

In contrast, The Dallas Morning News recently reported that “Home price appreciation in the Dallas area and across the country continued to slow in June as more homes were listed for sale.” Slipping home prices coupled with low mortgage rates make it a perfect time to dive into the Dallas real estate market and buy a home you can call your own. Here are a few more reasons why buying a home in Dallas is a smart move.

It’s an investment
In the long term, buying a home in Dallas is cheaper than renting. Instead of helping pay off your landlord’s home or building, you’re building equity and paying off a place of your own. Once you make your first mortgage payment, you’ll feel satisfied knowing you’re not throwing away your money every month on rent.

Tax deductions
When tax season rolls around, the biggest benefit of owning a home in Dallas is the ability to deduct mortgage interest payments. For many people this is a huge deduction in the early years of owning a home, since interest payments can be the largest component of your initial mortgage payments.

Sense of ownership
For many individuals, owning a home is a significant part of the “American Dream.” Whether your idea of perfection is an elegant Uptown condo or a sprawling estate in Highland Park, buying a home in Dallas comes with a certain sense of pride that no other milestone can match.

Customize your space
When you have your own home, there’s no need to check in with a landlord before you decide to paint the walls. Even better, bigger home improvement projects like renovating your bathroom or installing recessed lighting in the kitchen won’t leave you at risk for losing your security deposit.

If you’re like many longtime renters, you may be feeling the push to invest in a property of your own. With rental prices on the rise and mortgage rates hovering around 4 percent, there’s never been a better time to buy a home in Dallas. When you’re ready, get in touch with us. The Dallas Pacesetters have extensive experience helping homebuyers navigate the Dallas real estate market, and we’d be thrilled to do the same for you.

Dallas Pacesetters
Dallas’ top luxury real estate agents

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