You may have been renting a home for years, and you may be comfortable doing so. However, something may have you starting to think about buying a place of your own. If you have been a renter all of your adulthood and have never really considered buying, then this can be scary. Once you start learning all of the benefits that come with home ownership, it can help get you excited for the process and lead you to determining it's the next step for you to take in your life. Here are just some of the many different benefits that you would get to enjoy as a homeowner:
Pride of ownership – When you actually own the home you live in, you can take it personally when someone compliments you on your beautiful home. Every picture you hang and every plant you plant in the yard will be done with an extra special feeling of pride. It's a great feeling to know that the home you are living in is all yours, and everything you do to it is permanent.
A sense of security – Renting can also be scary. When you rent, you are safe for the duration of your lease. However, as soon as that lease finishes, you will be worried about what the future may hold. If the owner of the house decides they want you out of the house for any reason, all they have to do is to give you proper notice. Depending on the state you live in and the length of time you lived in the house, you can be given a certain number of days to vacate the premises. You will have to pack, look for a new rental, make sure your credit score won't hold you back, and make sure you have enough for the total cost of moving into the next rental. You'll also have to apply and be accepted into a rental. If you have pets, you'll need to hope you can find a rental willing to accept them, as well. When you own, you can say goodbye to all of these worries.
You will be paying into your future – When you rent a home, you really are just throwing away good money. You are paying more than that house's mortgage so the owner can pay their mortgage each month with your money and then profit off the extra. All the while, you will be taking care of the upkeep of their home while they gain equity. When you buy your own home, you will save money because you will only be paying the amount of the mortgage, and you yourself will be reaping the benefits of gaining equity.
If you do not feel like you have the means to purchase a home, consider looking into smaller properties, like condos, for sale. They will not be as expensive as houses and can be a great place to start.Share
6 April 2018
About a year ago, I realized that there were some serious issues with our home. I could tell that we needed to do something to upgrade our residence, so we started looking for a different property. I was able to find a really nice real estate agent who could help, and they worked hard to pair us with the perfect home for our budget and lifestyle. Now I can honestly say that I love my home, and I couldn't have chosen a better one on my own. Check out this blog for great information on improving real estate holdings and finding a better home.