If you can't decide whether you should buy or rent, consider these reasons why you should make the move to buy.
Customize Your Space
We all have our own style and tastes from what we wear to how we want our home to look. Owning your own home lets you make the decisions when it comes to paint color, wall decor, and renovations without worrying whether you will get your security deposit back.
Why pay someone else's mortgage? All the money you are spending on rent could be going to building up your own home equity. Most of us purchase a home with the intent to move into a larger home later to fit our new needs. You can use the equity you have built up to purchase your next home which means you won't need to save as much for a down payment or you won't have to borrow as much from the bank. You can also use the equity to take out a second mortgage. This is great for buying a vacation home or an investment property for additional income. Another advantage of buying is the possibility for you to make money on the sale of your home. This happens from appreciation in value of your property.
Having a fixed-rate mortgage gives you a piece of mind knowing that while things like gas, food, and utilities ma be rising, your mortgage rate will be staying the same. A landlord can send a notice that your rent is increasing but your mortgage lender won't. If you don't have a fixed-rate mortgage, look into refinancing and getting one to protect yourself from fluctuating rates.
It can get stressful not knowing where you might be living when your lease is up, especially if you are a pet owner. Buying a home takes all those worries away by helping you establish roots in a neighborhood or community.
Sense Of Accomplishment
You have made your dream a reality. It is one of the biggest purchases you will ever make and with that purchase comes a great sense of pride and accomplishment. Everything you put into your home is now for your benefit. You make the decisions and it is a great feeling.