Thinking about buying a home? Here are 5 awesome things about owning your own home!!
1. Equity - You'll never see the money you pay in rent ever again, but with a home you will. Homes typically appreciate in value (4%-6% per year) so you build long-term wealth by owning your own home. A home purchased for $20,000 in 1970 is most certainly worth a lot more in today's market!
2. Relationships - Apartment complexes have a limited if any amount of space for residents to meet and socialize. Renters don't see very much of their neighbors at all and have a limited time in a community based on a lease agreement. Homeowners on the other hand have long-term neighbors. They share trails, community parks and have yards to socialize and develop relationships in. According to research a healthy relationship will in turn make you happy and relieve some of your stress!
3. Predictability - Owning a home provides a fairly foreseeable set of expenses. By having a mortgage you know exactly what your payment will be monthly for the remainder of the mortgage, but with a lease the rent may go up.
4. Ownership - You own your living space; this means you can do whatever you would like with it! Renters do not have this luxury. As a homeowner you can decorate and renovate however you'd like. You can also add a deck, install a pool, or even build an addition.
5. Amazing Deals - Interest rates and home prices are low! You'll save big on a mortgage and a home by purchasing a home in today's market!!
Time to make the leap into homeownership!
Check out the full article about the benefits of being a homeowner here.
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