I get it, becoming a homeowner is a big decision, there is a lot to consider. But there is also probably a lot already indicating that it’s your time! Here’s a few telltale signs:
You want more privacy 🤫🤫 and control over your living space – You can create the home you want! The ability to create a space to call your own and that works perfectly for your family is invaluable. As the homeowner, you have the freedom to adopt a pet, paint the walls any color you choose, renovate your kitchen, and more. You can customize your own space without approval from landlords.
You’re ready for home maintenance 🔨and upkeep ⚒ – The overall cost of homeownership tends to be higher than the overall cost of renting. That is true even if the monthly mortgage payment is similar to (or lower than) the monthly rent.
Here are some expenses you’ll be spending money on as a homeowner that you don’t have to pay as a renter:
- Property taxes
- Trash pickup
- Water and sewer service
- Repairs and maintenance
- Pest control
- Tree trimming
- Homeowners insurance
- Pool cleaning (if you have one)
- Lender-required flood insurance, in some areas
- Earthquake insurance, in some areas
You’re ready to settle down 💅🏽💅🏽 and stay put – Homeownership brings intangible benefits, such as a sense of stability, belonging to a community, and pride of ownership. However, it is not good for restless or nomadic types. You might not be able to sell when you want if the housing market is down. Even if it’s up, there are significant transaction costs when you sell. Changing your mind about where you want to live is far more expensive when you own.
It’s important to remember that owning a home isn’t always better than renting, and renting is not always as simple as it seems. Consider the pros and cons of each to figure out whether renting or owning is best for you! More importantly, you should always ignore anyone who discourages you from buying a home because of race, religion, or marital status. Unfortunately, people were often prevented from owning land based on race or their beliefs in the past. Illegal practices like redlining still deter members of minority groups from seeking to own a home.
Thank you for reading!
Blackrock Investments and Finance, Inc.
direct (951) 963-4023 | cell (626) 731-4485 |fax (626) 529-0850
email firstname.lastname@example.org | web www.realtorjudyha.com
CA DRE: 01884583
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