When it comes to buying a home, there is a lot to think about and plan. If you’ve been debating about renewing a lease, or taking the plunge into homeownership, well I can tell you why now is a fantastic time to buy!
1. Equity- By paying someone a rent cheque every month, you are just throwing your money into their pocket, and you don’t have anything to show for it. There are some bigger expenses you have to pay upfront when you buy a house (such as inspections and your down payment) but you do make up that money over time, in the equity of your home.
2. Relationships- People who rent, don’t always get to know their neighbours as well, due to the high turnover rate of renting. When it comes to places that you rent, there’s often very little space for common ground, which doesn’t allow you to get to know people. When you have a home, you have your yard, community pools, walking trails and clubhouses. And what’s more, is that your neighbours often last a lot longer, because people want to stay in one place longer, because it ultimately gives them a better return on their investment.
3. Predictability- When you get a mortgage on your home, you can get a fixed rate, which means if your mortgage is $500/month, it will be $500/month 10 years down the road. This allows for better budgeting and financial planning i.e. you know your roof will need to be repaired in 15 years (or so).
4. Ownership- Owning your own home means you can do anything you want to it! Well, within reason of course. You can renovate, paint, decorate etc, and no one can stop you! Most renters are stuck with the same old stuff that’s been there for decades!
5. Great deals- Now is the time to buy! Interest rates are extremely low right now, and because of the recession, the prices of homes have dropped.
Want to know more? Any questions you have about your home buying or selling experience, give me a call text 613-331-1290 or e-mail firstname.lastname@example.org and I will get back to you with the answers ASAP!
*Information from Realty Times online