A large number of people who have never owned their own home tend to automatically rent when they seek to move. Although renting over buying is sometimes advantageous, there are also some very attractive benefits to buying a home instead of renting.
One of the highest priorities for most people lies in the area of finances. Unless you move around often, buying a home normally has a definite advantage over renting. In most parts of the country, monthly home mortgage payments are between 35 and 45 percent less than monthly rental fees. That extra monthly savings can be used to fix up your new home, buy a new car, use on education, take a vacation, etc.
Another financial advantage occurs over the long term. Any of that extra money placed in home improvements as well as the initial purchase price will be rewarded when it comes time to sell. When you move from rental to rental, all monies paid are simply thrown to the wind. However, when a homeowner decides to sell, a profit is made and any extra investments in the home generally produce a higher selling price.
Better Quality of Life
Buying your own home usually improves your quality of life. You’ve already seen how money can be saved which can be used to go more places and do more things. However, you also have a better chance of living in an environment that is more pleasant. Rural locations, subdivisions and even inner city neighborhoods where homeowners dwell all generally have a better atmosphere to live, raise children and invite friends.
Freedom in Customizing
“A person’s home is their castle” is more than a catchy phrase. A great deal of homely pleasure lies in being able to customize your house the way that best reflects your personality and tastes. When you rent another person’s property, you are extremely limited to what modifications you can make to the property without either gaining permission or losing deposit fees.
However, when you buy instead of rent, you have full freedom to customize your home, inside and out, according to your dreams and desires. Add a backyard pool, paint your room fuchsia, build a new workshop or deck, totally remodel the kitchen, or whatever you want. This includes making energy-efficient improvements like upgrading heating and air conditioning units and adding insulation that will save you even more money to spend on other areas.
Be A King Rather Than A Peasant
Another wonderful advantage of buying a home over renting is that you are in charge and no longer have to deal with temperamental or lazy landlords. Forget leases, unexpected eviction notices and delayed repairs. When something malfunctions, there is no more need to be dependent on another’s schedule. You simply call the necessary repair persons and they report directly to you. Also, if you secure a fixed home mortgage loan, you never have to worry about hikes in monthly payments like can often occur when renting.
Bottom line is that there are a number of very advantageous reasons to buy instead of rent. What’s more, there are opportunities that exist which provide 100 percent mortgage loan financing with no downpayment and insurance fees that can be rolled into the total amount. What are you waiting for? Why not buy instead of rent?! To get pre-approved simply call our office at (843) 444-LOAN (5626), or go to our secure loan application athttp://acmg.info/loan-application/ to get started.