If you’ve been on the fence about buying a home, now is the time to take the leap. Below are five reasons that homeownership can be great!
Equity
When you pay rent, you never see that money again. Even though buying a home may mean out of pocket inital costs, you will make that money back with the euqity you’ve built in your home. Homeownership is about building long-term wealth.
Relationships
Renters tend to see their neighbors come and go. Homeowners, however, have yards, community pools and neighborhood gatherings for people to meet and socialize. Neighbors stay put much longer (at least 3 to 5 years if they hope to recoup their closing costs). This means more time to build relationships.
Predictability
As long as you have a fixed rate term on your mortgage, its predictable. Many people buying homes today lean towards the fixed rate mortgage – meaning that the monthly payment will be fixed for the life of the term.
Ownership
This one is a “no brainer”. Homeownership means you own the home – which has some incredible perks. You can personalize it to your taste with updating, painting or even planting a tree or adding a pool! This is the chance to show your personality through your home!
Great Deals
As everyone knows, it’s a great time to buy. Interest rates are at historic lows. In addition, homes are more affordable than ever before. If you have steady income and cash for a down payment, be sure to talk to an agent at Falvey Real Estate Group!