Even in this tough economy, here are our top 5 reasons why it’s still a great time to buy real estate!

  1. You can build equity — A hamster in a wheel gets nowhere. A renter in a rental goes nowhere as well. Renting can be a very futile process. All of the money that a renter puts into a rental property disappears and is never recovered. Homeownership, on the other hand, allows you to build equity. As a property increases in value over time, homeowners are able to build equity. This equity provides opportunities for the homeowner to borrow lines of credit to improve their home. Equity is the natural consequence of home ownership. Renters never gain equity from their rental and have nothing to show for their years of rental payments.
  2. You can save money instead of throwing it away — Paying rent guarantees nothing more than having a roof over your head for the time that you pay your rent. In one way, it's like an extended stay at a hotel. The money you've spent is never seen again. This is a terrible investment. Home ownership allows you to SAVE money instead of watching it disappear.
  3. You can have more space — Have you ever ridden in a plane and been unable to stretch your legs? It's not very comfortable is it? Renting is very similar. Unless you are renting a high luxury apartment (which, in that case, you might as well be paying a mortgage!), chances are that you have a tiny balcony (maybe) and small closets for storage. Home ownership offers you the chance to have a yard and space for storage. In other words, owning a home gives you a chance to stretch your legs!
  4. You can make upgrades — Many rentals do not allow the renters to alter the rental space. The result? Renters are stuck with neutral walls and flooring and outdated kitchens and bathrooms. This can be pretty boring! Home owners can make upgrades and decorate as they please. As a result, the upgrades increase the value of the house (your investment). From an investment perspective, this is a SMART move. 
  5. You can have pets — Looking to adopt a “Fido,” you might want to look towards buying a home. Don't get me wrong. You can have a pet in a rental, but it comes at a hefty price! Pet deposits can be expensive, and some apartments charge a monthly premium and/or additional deposits for each pet. Homeowners don't have to deal with these fees, and they often can provide a better environment with more space for their pets as well.

We are committed to helping you make SMART home buying decisions. Give us a call today if we can assist you in your home buying process.

 

Committed to helping you Buy. Sell. Live. SMART,
Seth & Alyce