Why Are You Considering Buying A Home?

There a lots of reasons someone would want to buy a home. There are lots of reasons someone wouldn’t. What are the reasons you’re considering buying a home? (We are going out on a limb here and assuming you’re considering it, since you’re reading this post).

Here are 10 reasons people decide to buy a home:

  1. Build Equity – Despite current media hype, homes do increase in value over time (under normal circumstances, just a little each year – not 20% or 30% like in “the boom”). This is a built-in benefit of homeownership. Not available to renters.
  2. Make Better Use of Money – Mortgage payments work for you, just like traditional investments. The process is called amoritization – the paying off of debt over time. If you make mortgage payments for 30 years, at the end of that time, you own the house. Pay rent for 30 years and 30 years later, you have nothing.
  3. More Space - You get your yard, basement, garage, rumpus room – you generally just get more for your buck when you buy.
  4. Ability To Make Upgrades - You can rip out that nasty old commode or just hang pictures and not worry about making a bunch of little holes in the walls.
  5. Easier To Own Pets – No pet deposit and your pooch can poop to his heart’s content.
  6. Distance From Noisy Neighbors – Oftentimes your own home means you’re less likely to hear the details of your neighbor’s latest spat with her boyfriend.
  7. No Landlord – Enough said.
  8. Lifestyle Freedom – If your hobby or profession generates a lot of noise or requires a lot of space, having your own space is kind of a no brainer.
  9. No Security Deposit – How many of you have forfeited part of a rent security for some mundane transgression like not vacuuming the coils on the back of the refrigerator at the end of the lease term? Are you kidding me?!
  10. Live The American Dream – We are not sure exactly what the American Dream is but we are pretty sure owning your own home is part of it. If nothing else, it means independence.

Do any of these fit you? Why are you considering buying a house?

Source:  Long & Foster’s Homebuyer’s Blog

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