Posted November 21, 2011
With today's real estate market dramatically changing daily, it is still always better to be a homeowner. Below are 5 brief reasons why it is so great to own your own home. Check out the link below for the full article.
1. Equity: Even with the high initial costs to buying a home, your monthly mortgage payments go toward your own principle verses to your landlord (which you will never see again). Even with the recession, experts still feel that the housing market will recover, making an investment in a home a long-term savings.
2. Relationships: When renting, there is not a lot of opportunity to make lasting relationships with your neighbors. Homeowners have yards, walking trails, community pools and clubhouses where they can get to know their neighbors and socialize more.
3. Predictability: As long as you have a fixed-rate term on your mortgage it's predictable. Having a predictable mortgage each month that will be the same amount 15 years from now as it is today lets you plan for the future for other predictable expenses that will arise.
4. Ownership: This is obvious. But the perks of owning enables you to make your house a home. Renovating, updating, painting and decorating allows you to personalize your home to your own tastes. When renting, you are usually stuck with the basic wall color, carpet, no option for expanding, etc.
5. Great Deals: With interest rates at a historic low, now is a great time to buy! With fixed interest rates 4% and lower means huge savings for today's buyers. And with the recession still ongoing means lower house prices as well making it a wonderful opportunity to get your foot in the door with your first home!
If you are looking to buy or sell your home in Santa Barbara, CA call to find out what your options are and how we can help you find the home of your dreams!