Is it time to leave renting behind and purchase a home to call your own?
There are many advantages to becoming a homeowner in 2020. We are sure you have seen the news, interest rates have dropped to all-time lows once again, making homeownership more affordable than many rising rent payments. When considering buying a home you want to evaluate your current circumstance and stage in life. Buying a home is not always right for each situation. Below are the Top 3 Reasons to Buy Your Own Home:
- Privacy: If you are renting you know all too well what it is like to share ceilings, walls or floors with others! You may even want to have a party where you don’t have to worry about how loud the music is, where everyone will park or even if you have enough space for all your guests. Better yet, you can look forward to relaxing in your living room, with your feet up after a long day in complete silence if you choose. These are just a few of the privacy benefits of homeownership.
- Savings & Investment: The cost of renting in Michigan continues to increase and in many situations, monthly payments are lower when purchasing a home! There are a variety of mortgage products with various down payment options that can provide cost savings every month. Additionally, the principal and interest payments on a fixed-rate mortgage do not fluctuate the way that rent payments do with inflation. Every month you make a payment equity builds on your long-term investment; your home.
- Personalization: Owning your home allows you to put your design stamp on it. Paint your walls any color of your choosing, add wallpaper, remodel the kitchen, knock out a wall for a more “open concept”, put in a garden, add landscaping, your imagination is the limit*! As you update your home, many of your projects also provide additional value, helping to grow your investment. As a renter, many complexes don’t even allow you to paint or hang your own curtain rods.
If you are trying to decide if purchasing a home is right for you now or in the future reach out to us for a personal review with a phone call, download our app or send us a quick message.
Want to learn more about purchasing a home in a relaxed, fun environment? Join us for our upcoming FREE Homeowners Class!
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*Building codes, permits and ordinances need to be followed