We love owning a home and here’s why!
Financial Reasons to Buy a Home
One of the biggest advantages is that it is cheaper to own than to rent! In 2017 it took 29% of household average income to pay median rent but only 15% to pay a mortgage on average median home price.
How nice would it be to lock in your monthly payment, rent just increases and increases. If you purchase a home your principal and interest is going to be the same over 30 years the only variable is taxes and insurance that are included.
Whether you rent or own you make a mortgage payment. Do you want it to be your payment or the landlords?
The net worth of a homeowner is 35% higher than that of a renter. Just think this could be your retirement fund, so in 30 years you could own it free and clear and it would have appreciated over that time, what a nice little chunk of change.
Personal Reasons to Buy a Home
So my favorite advantage is NO landlord. When its your home or condo you don’t have to answer to anyone, no one can come and say they are changing the locks. If you own your home you get to customize it, whether its paint, appliances or a complete remodel you can make it truly your own
When you own a home you do not share a ceiling, floor or wall with someone else. You can truly have your own space.
Last but not least the Pride of homeownership, when you own your own home you are an adult, you can walk a little taller. You Have Control Over Your Destiny.
That sums up many of the advantages of homeownership. If you would like to know how it can be of an advantage to you please feel free to give us a call.
We are “The MORTGAGE PROFESSORS” Educating-Empowering-Enriching!