Today’s sales in the real estate market are still experiencing weak returns, but many fearless home buyers take the opportunity of making their dreams a reality, and perhaps others (like renters) should think likewise, as there are many advantages to owning a home now compared years back. Although the process of buying a home can be heavy in the budget and emotionally and physically draining, the benefits in the long run will outrun those. Here are a handful of facts about owning a home compared with renting:
1. A smorgasbord of homes for sale to choose from – Although it is difficult to obtain the exact number of homes available for sale listed on the market today, the Internet, on the other hand, is only an indication that the market is flooded because of what the country experienced economically years back. However, real estate listings or multiple listing services (MLS), like Colorado Springs MLS, give home buyers a bird’s eye view on how many properties are listed by a certain a location, say, in Colorado Springs real estate or among Colorado Springs homes for sale for example.
2. The perks of renegotiating on the price – Again, due to the influx of existing homes for sale (Colorado Springs homes for sale included), and some staying longer than usual in the market, sellers are forced to lower their prices, while others would even share costs, and „give away“ their other fixtures, furniture, appliances, and other tangibles, just so to dispose their properties. All these information are usually written or mentioned in the purchasing agreement.
3. Enormous benefits and satisfaction of being a home owner – When you rent, more than likely your activities are limited to and linked with HOA guidelines. As for being a homeowner, you can do what you love doing and to invite as many people as you want in the comfort of your own home. Rebuilding, repairing, rearranging the furniture and everything you would want as an owner is easy, as opposed to renting, when you just have to settle for the limited number of things and what to do in your small space. While it is true that renting may be more convenient for others and owning a home is just for some, it is also true that the benefits of having one’s own home will be incurred and enjoyed for life.
4. Community involvement – It is much easier to establish a long-term relationship between neighbors in a community that in a condominium or an apartment. Other tenants can just easily move elsewhere, rather than when owning a home, you can even participate in community activities and be more involved.
5. Interest rates are at the bottom and even no money down programs can be availed of – If you have bad credit, it can be harder for you to enjoy these privileges. But if you have a good credit statement, then consider this opportunity in no time. You can ask your realtor or local funding agencies for more information about the type of mortgage fit for you and its requirements.
6. Fixed payments and incurring home equity – Leasing can be good, that is, if the monthly rent will remain the same during your entire stay and rental property owners will be gracious in doing so (which is oftentimes doubtful as maintenance or upkeep is relative to economic circumstances). As when you choose a fixed-rate mortgage (whether 15- or 30-year loans), the amount you pay regularly is fixed during the whole loan period. Plus, the fact that your payment is building up on something tangible, and quite rewarding when that day comes when you officially own the home you paid for.
Immobilienmakler Heidelberg Makler HeidelbergSource by Lovely Maize