The Best Reasons to Own a Home

What are Some of the Best Reasons to Buy a House Today?

If you’re currently renting a house or an apartment in Encinitas, you may wonder if buying is the next step you should take in the future. After all, getting a home isn’t an easy since you’ll have to deal with expenses beyond the home’s price, including maintenance, mortgage fees, home insurance, property taxes, and other costs. Fortunately, these recurring expenses are manageable if you save enough money by following a proper budget plan. Additionally, homeownership has some benefits that you may not get as a tenant at a rental property!

Take a look at some of the best reasons to own a home in your area today:

Home Value

Real estate has had stable growth, even in the worst part of the recession. According to the Federal Housing Finance Agency, real estate moves in cycles but has consistently appreciated. If you become a homeowner, you can monitor your property’s value using a home valuation tool or working with a Real Estate Agent in Encinitas with access to comparative market data. No matter how much equity your home makes, you can turn your home’s value into cash you can use for emergencies when applying through different loan options, like a HELOC, home equity loan, or a cash-out refinance.

Access to Low Mortgage Rates

It really is a buyer’s market. Mortgage rates are currently around 4 percent, lower than they’ve been in years, and if they increase after you’ve purchased a home, you always have the option of refinancing! Don’t hesitate to speak with a Realtor if you need help finding a home with a reasonable mortgage rate.

Stability 

Security and stability are incredibly important to families. Staying in the same neighborhood lends you an opportunity to provide social and educational consistency for your children, and also to make valuable connections within the community. 

If you have a fixed-mortgage rate, you can also benefit from the stability you could not have by renting; while rent prices increase over the years, your mortgage payments will remain the same.

The Freedom to Customize

When you buy a home, you’ll be able to have each room exactly the way you want ⎼⎼ call it pride of ownership. Knock down a few walls, build an extension, paint the kitchen black ⎼⎼ all things you won’t be able to do while renting unless you have an extremely lenient landlord. 

Savings Benefits

Think of it this way: you could be paying rent every month and never see that money again, or pay a monthly mortgage and build equity in your home. It’s a savings plan that, more often than not, leads to gain when you’re ready to sell. There are also tax benefits to consider. You can deduct mortgage interest, property taxes, and other costs associated with purchasing a home. 

Talk to a Realtor in Encinitas About Buying a Home

Are you convinced about getting a house? Speak with Realtor Linda Moore today to start the process of finding your dream home! Just email or call Linda Moore to get in touch with her immediately. 

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