Call (888) 882-2232 Email Customer Care Select Build Area
Skip to content
Hiline Homes
  • Floor Plans
    • Plans
      • 1-Story Floorplans
      • 2-Story Floorplans
      • View All Plans
    • Plan 875 Plan 875
    • Plan 1491 Plan 1491
  • Financing
    • Financing
      • Approved Lenders
      • Financing Information
      • Loan Pre-Qualification
    • Financing
  • Building Resources
    • Construction
      • Construction Process
      • Build Timeline
      • Why Build Custom
      • Features
      • Shell Programs
      • Mobile Replacement
      • Retirement Living
      • Multigenerational Living
    • Building Resources
      • Already Have Land
      • Don’t Have Land Yet
      • Don’t Know Where To Start
      • Land Evaluation
      • Land Excavation
      • Construction Permits
      • Septic Systems
      • Resources
      • FAQs
    • Home build

      Do It Yourself
      Home Building Tips

  • Why HiLine Homes
    • Why HiLine Homes
      • About Us
      • Our Promise
      • Testimonials
      • Blog
      • Customer Referral
      • Agent / Broker Referral
      • Be a Trade Partner
      • Careers
    • Our Mission Is To Provide High Quality Affordable Homes For Families, Giving Them A Strong Equity Position

  • Contact Us
    • Washington
      • Corporate HQ
      • Puyallup, WA
      • Woodland, WA
      • Satsop, WA
      • Poulsbo, WA
      • Kennewick, WA
      • Yakima, WA
    • Oregon
      • Redmond, OR
      • Salem, OR
      • Roseburg, OR
      • Medford, OR
    • California
      • Redding, CA
    • Idaho
      • Meridian, ID
      • Contact Us
      • All Locations
  • Home Ownership

How to Build Equity Instead of Wasting Money on Rent

By HiLine Hal

Image of Couple Saving Money

Homeownership is empowering, especially when you buy a custom home on your lot. If you are wasting money on rent, you likely wonder whether it’s time to make the jump to homeownership. With interest rates low and low down payment programs offered by Freddie Mac and Fannie Mae, homeownership isn’t just a dream to pursue years down the road.

According to a recent article by usatoday.com, it’s important to crunch the numbers to figure out the costs of owning

versus renting. By talking to a new home consultant with HiLine Homes, you can learn about home plans that fall within your personal budget. A recent article by MarketWatch shows one in four Americans spends more than 50% of their household income on rent. Some households spend 70% of their income on rent. Experts say spending more than 30 percent of your income on rent is excessive.

Enjoying tax advantages

Instead of wasting money on rent, you can enjoy tax benefits that come with homeownership. You can receive sweet tax breaks as a homeowner including the mortgage interest deduction. Also, if you pay points on your home loan, you also get a tax break.

Having freedom and flexibility

When you have a residential home builder in the Northwest construct a home for your family, you can ask for the floor plan that will best accommodate your needs. As a homeowner, you have the freedom to turn your home into a rental down the road. You can paint the home the way you like. Renters often deal with so many restrictions and limitations. Many of the improvements you make will increase the value of your home, which doesn’t happen when you rent.

Owning your home outright

Even if you don’t buy your home with cash, you know eventually you can own your home outright. As a long-term renter, you don’t walk away with any equity. A recent study by zillow.com showed it only takes about 2 years for homeowners to breakeven in terms of the money spent on closing costs, taxes, and maintenance compared to renting the same home. After two years, you begin to build solid equity in your home. If you decide to sell, you will likely walk away with a large check at closing while your friends who break a lease leave with nothing to add to their bank accounts.

At HiLine Homes, we understand feeling frustrated by wasting money on rent. With a custom home, you can enjoy choosing the layout and features you desire. We have a variety of home plans for your lot in The Northwest. For more information on a beautiful home built on your site construction, please contact us.

Continue Reading

Dec 14, 2021

What is 100% Financing for a Home? (When it Makes Sense)

Read more

Nov 17, 2015

Landscaping Your Dream Home

Read more

Nov 10, 2015

Meet the Neighbors: Ways to Make a Good Impression

Read more

Sample Content
Hiline  Homes Logo
NAHB Logo BBB Logo Hiline  Homes Logo
HiLine Homes Twitter Icon HiLine Homes Instagram Icon HiLine Homes Facebook Icon

Contractor Licenses:
Washington - HILINH*983BD, HILINH*845D3, HILINHT841JA
Oregon - CCB# 182300, 181069, 181652, 210297
California - 1001720
Idaho - #RCE-50728

Elevations & Images shown may reflect artists interpretation and/or optional features and may not represent the finished product. Plan numbers indicate approximate square footage of living space. Builder reserves the right to change specifications and price without notice or obligation.

  • Floor Plans
    • 1-story Plans
    • 2-story Plans
    • View all Plans
  • Financing
    • Approved Lenders
    • Financing Information
    • Loan Pre-Qualification
  • Contact
    • Contact Us
    • All Locations
  • Construction
    • Construction Process
    • Why Build Custom
    • Features
    • Shell Program
    • Mobile Replacement
    • Retirement Living
    • Multigenerational Living
  • Building Resources
    • Already Have Land
    • Don’t Have Land Yet
    • Don’t Know Where To Start
    • Land Evaluation
    • Land Excavation
    • Construction Permits
    • Septic Systems
    • Resources
    • FAQs
  • Why HiLine Homes?
    • About Us
    • Our Promise
    • Testimonials
    • Blog
    • Customer Referral
    • Be a Trade Partner
    • Agent / Broker Referral
    • Careers
©️2023 HilLine Homes, Inc. All rights reserved | Privacy Policy | Accessibility Statement