6 Perks Of Owning Your Own Home
Forget "to be or not to be?"... the REAL question seems be "to rent or to buy?"
Adults across the nation struggle with this question every single day. Renting may seem easier at first, but more and more renters are getting tired of the hassles and unexpected expenses that come with renting. Buying a home in Colorado Springs sounds like a big financial investment and some first-time buyers are hesitant to make the commitment, but they may fail to realize the incredible benefits that come from owning your own home.
If you are on the fence about whether to buy or rent your next home, consider these advantages of owning your own home.
1. Consistency
Many renters learn the hard way that their monthly rent is not locked in - if their property management company deems it necessary to raise the rent, they are free to do so. If you have a fixed mortgage loan, however, your monthly payment is will remain consistent for the duration of your loan.
2. Tax Breaks
Mortgage payments are one of the very few expenses that are still tax-deductible. Homeowners can deduct the cost of their interest as well as their property taxes. When tax season comes around, having these extra deductions at your disposal could make a big difference.
3. Affordability
Buying a home is more affordable than you may think. It is actually quite common for monthly mortgage payments to be less than monthly rent payments - and the space you own will probably be larger than the space you rent! Interest rates continue to hover at record lows, so now is a great time buy.
4. Freedom
If you're tired of living with the restrictions placed on your buy your apartment complex, you will absolutely love the freedom that comes from owning your own home. You can able to paint, remodel, and redecorate as you see fit - and you don't have to worry about losing out on your deposit as a result.
5. Savings
You may not have thought about it this way, but owning your own home actually forces you to put money in "savings" every single month. When you write a check for your rent, you never see that money again - but when you write a check for your mortgage, you're building home equity. Not only that, but the market consistently improves over time; if you sell your home several years down the road, you will most likely be able to sell it for more than you originally paid for it. Your home will likely be your biggest financial asset by the time it is all said and done.
6. Stability
It is not uncommon for renters to move locations every year, but homeowners often stay in the same place for five years or more. This stability allows you to fully integrate into your community, make friends with your neighbors, and raise your children in a consistent environment.
Convinced? Contact The MacGuire Team Today!
If you would like more information about buying a home or are ready to schedule a home showing in Colorado Springs, contact The MacGuire Team! We would love to help you find your dream home in the Springs area. We look forward to working with you!
Mike MacGuire
Colorado Springs Real Estate Agent
The MacGuire Team
6760 Corporate Dr
Ste 300
Colorado Springs, CO 80919
719-536-4324 or 719-660-6793
Mike@BuyWithMike.com
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