There’s no question that one of the biggest decisions people make in life is about where they will make their home. A decision that involves the choice of renting or to buying your home outright. There’s no perfect answer for everyone.
Buying a Home:
It’s no secret that buying a home can be expensive. Don’t let a look at the amortization table* send you running -- most people don’t stay in a home long enough to make 30 years worth of payments. But there are other costs to home ownership:
- Property taxes
- Utility bills
- Alarm permits
- Maintenance costs
- Repair costs
- Homeowners’ association fees where they apply.
It can seem like renting is the ONLY way to go… until you look at the positives!
Of course, there are non-financial benefits to owning a home that are huge pluses. The American Dream, a wonderful sense of accomplishment as well as complete control over a personal environment.
Families tend to prefer the stability of a home and a neighborhood versus the transitory nature of apartments and areas that are mostly rental properties. But the benefits to your portfolio are still most important ones for almost everyone.
Financially, a mortgage still provides a good source of tax savings. Home ownership is also one of the leading ways for the average person to double or triple their financial assets. This is because property overall, continues to increase in value. After all, above all, its land, and they are not making any more of it!
Renting a Home:
There are times when renting IS the best idea. It can be a great credit builder starting out, is a good way to “test-drive” a neighborhood when first relocating to a new area, and most importantly, avoids the financial losses that can really add up if moves occur frequently.
eHomeHouston first discussion always covers these crucial points. Making the right decision to buy or rent is individual to each person, and weighing the pros and cons is the starting point when planning a move.
eHomeHouston is your first stop for anyone downsizing, relocating to Houston, or new professionals starting a career in town for the first time. You enjoy where you live every day… and each move is a big decision, so do it right with eHomeHouston!
Are you ready to take the first step? Request a complimentary list of homes (that you’ll LOVE) from our team today. The best part about this list is that it’s based on details you give us and these homes were put on the market today.