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Should I Buy Instead of Rent?

Buying a home can be a scary thing, but it doesn’t have to be. It allows you so many more opportunities than typical renting can. While it isn’t always the case, home ownership can provide you…

  1. Creative Freedom
    You can remodel, landscape and DIY as much as you want. That means you can knock out walls, paint the interior and exterior, own pets without paying a pet deposit and more! Of course this isn’t taking into account whether you are in an HOA, if your homeowners insurance has breed restrictions, or if you need to hire a contractor to get the job done. In a general sense though, you have more freedom in how you live.
  2. It’s an Investment!
    Paying towards owning your home is contributing towards you assets. You essentially become more “valuable” than someone who is renting because they typically don’t own anything of that volume.
  3. Saving Money
    Not only is buying usually cheaper (per month) than renting, but you also are putting money towards an asset that can later be sold or rented out if your situation changes and you can no longer occupy the home.
  4. Stability
    Owning a home can provide more stability because it protects you from rent hikes and constantly looking for a new apartment if the price becomes too high. Owning allows you more options for a stable monthly payment which can help when it comes to budgeting.
  5. Long Term
    Home ownership provides an end to payments…sort of. While buying a home can bring a commitment of 15-to-30 years if your financing, the good news is that there is an end in sight. That means if you stay in that home you can essentially be living “rent free” for the rest of your life—aside from pesky utility bills and miscellaneous maintenance you may wish to do around the home.  That can be a huge relief especially when it comes to retirement and lessening your debts.

Homeownership does have both ups and downs, but long term can be a positive goal for most. For more information on how to make this goal a reality, contact us at The Hardie Group 509-456-4500




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