MARYVILLE, Tenn., — Families often struggle with the decision to purchase or rent a home. Clayton Homes, America’s largest home builder*, has released a tip sheet to help consumers navigate the decision-making process of why, if and when to purchase a new home. As part two of the Buyer’s Guide to Homeownership, this helpful tip sheet offers guidelines to weigh the pros and cons of these different housing options to help consumers decide which path best supports their family’s lifestyle.
For example, while homeowners may experience more maintenance costs and less mobility, they will enjoy many long-term benefits including:
Potential tax deductions for mortgage and property**
Freedom of choice and design
Pride of homeownership
More room for a growing family
Outdoor living and recreational space
Renters may experience downsides such as rent fee hikes, lack of privacy, noise, and pet restrictions, but receive perks like:
Low up keep costs
“The age-old question of whether to buy or rent has stumped people for years,” said Kevin Clayton, CEO of Clayton Homes. “A home is usually the largest purchase Americans make in a lifetime, and there are many factors that play a role in the decision-making process.”
Click Here to download the Rent vs. Buying tip sheet.
About Clayton Homes
Clayton Homes has built more than 1.5 million homes since 1956, winning multiple awards for design and construction. Through its affiliates and family of brands, Clayton Homes builds, sells, finances, leases and insures manufactured and modular homes, as well commercial and educational buildings. As the nation’s largest home builder*, Clayton Homes is a vertically integrated Berkshire Hathaway company whose purpose is opening doors to a better life, one home at a time.
*Largest homebuilder in 2012 as of 7/26/2013, based on a comparison of the number of manufactured homes sold to the number of site-built homes sold as reported by builderonline.com and the number of manufactured homes shipped as compared to all other manufactured home manufacturers as reported by the Manufactured Housing Institute.
**Please consult a tax professional to determine tax deduction eligibility