Guest Post by Jerrianne Jackson, Blu J Agency
For some renters, purchasing a home may seem like an overwhelming goal. However, in today’s market with affordable homes and low interest rates, buying a home may be a practical and satisfying option.
|Benefits Of Homeownership||Count the costs before you leap:|
|Appreciation||The value of your home will appreciate with time. Likewise, you can increase your property value by painting, adding a fence, or updating the bathroom. As a renter, you are only paying for your landlord’s mortgage and financial investments.|
|Stability||The home will always belong to you, as long as you make timely mortgage payments. When renting, you are at the mercy of the landlord, who may increase your rent, change the lease terms, or sell the property.|
|Independence||As a homeowner, you can paint your daughter’s room princess pink or host your entire family for Thanksgiving. With renting, you are limited to the owner’s rules and regulations.|
|Finances||There are online tools to help you decide if buying or renting is best for you. Try this rent vs. buy calculator to help you decide.|
Path To Purchase
If purchasing a home is best for you, start planning before you’re ready to move. Understand the advantages of getting pre-qualified and meet with a REALTOR® to learn more about the home-buying process. Reduce unnecessary expenses and sacrifice on entertainment. Save money for a down payment, closing costs, and moving expenses.
Location, location, location is vital in real estate. Take the time to view different neighborhoods. Ride by homes you like during different times of the day. Check your proximity to work, schools, and recreational activities.
Overall, if you are planning to stay put for a couple of years, buying is cheaper than renting. Renters in the Charlotte, Gastonia and Rock Hill area have seen a 16% increase in rental rates since 2009, according to the National Association of Realtors. The short-term costs and long-term benefits of homeownership consistently outweigh the benefits of renting. You have to live somewhere, so why not make your house a home?
Jerrianne Jackson is a Real Estate Consultant who inspires first time home buyers to understand the values of home ownership through education and commitment. Her company, the Blu J Agency helps individuals and investors leverage residential real estate to establish long-term economic wealth. Connect with Jerrianne @ BluJRealty or firstname.lastname@example.org.