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Mortgage Monday – Should I buy or rent a home?

Mortgage Monday - Should I buy or rent a home?
Mortgage Monday – Should I buy or rent a home?

It’s worth considering the many benefits of homeownership before you make the decision to rent or buy a home.


  • Rising rental costs – Your monthly payment generally goes up each time you sign or renew a lease.
  • Not earning financial benefits – No return on your investment or tax benefits, rent money is lost.
  • Limited ability to save – As rents rise, it can be harder to save for a down payment and buy a home in the future.
  • No maintenance costs
  • Shorter time frame makes moving easier and less expensive


  • Stabilized housing costs – Your monthly payment is locked in for the length of your loan, usually 15-30 years.
  • You own a tangible asset – Any home price appreciation helps grow the value of your home.
  • Increased net worth – Your payments and price appreciation build equity and your net worth over time.
  • Substantial tax breaks for homeowners
  • Home may lose value
  • Must pay maintenance, taxes, and insurance

If you want to learn more about the benefits of homeownership, reach out to a real estate professional today.

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Kimmer Plunk

Based in Memphis and serving clients in West Tennessee and Northwest Mississippi. Serving others is a reward of its own and part of what makes me happy, and I've been doing that for 30 years through various activities including Girl Scouts, PTO, various board positions, unhoused ministry, and professional, award-winning teaching. I treat others the way that I want to be treated including being readily available, listening to your desires, answering your questions thoroughly, and walking you through the home purchase process. My ultimate goal is to see that you find the home of your dreams and experience the least amount of stress during the process.

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