It can be said that one part of the American dream is to become a homeowner. A place where a person can lay down roots and make memories. A soft place to land. I’ve been renting for the last few years but would one day like to become a homeowner myself. There are a lot of annoying things about renting.
The rent check I write to my landlady every month is paying HER mortgage and then some. Having rental homes is her business and so she charges to cover her mortgage payment (if it isn’t already paid off) plus extra to cover maintenance and for a better return on her investment. Owning my own home would most likely save me money every month just by paying my own mortgage. My payment would be lower. Granted, I would have to purchase a home within my budget. It is never a good idea to buy more house than you can afford. No one should be house-poor.
When I write my rent check every month, I will never see that money again. If I owned my own home, my mortgage payments would be an investment in my personal equity. It would be similar to a built in savings plan. Hopefully, if I were to sell my home in the future and market conditions were good, I would make a little profit as well. It would go into my pocket and not my landlady’s.
Of course there are some cons to homeownership. To be a responsible owner, one needs to budget and save for those inevitable repairs and maintenance projects that will have to be done on a regular basis. You owe it to yourself and your neighbors to keep your house well maintained especially if you plan on selling it for top dollar in the future.
Depending on your lifestyle, owning a home can be very beneficial and gratifying. If you’re sick of paying your landlady’s mortgage like I am and would like to start paying yourself, call one of our excellent agents at ChangingStreets.com. They’ll be with you (and maybe me one day!) every step of the way on the path to becoming a homeowner at last!
(Source: http://tinyurl.com/peruenp )