Homes condos Montgomery Md Rockville Gaithersburg Germantown, Short sale foreclosure expert: Five Reasons why you should be a Home Owner

Five Reasons why you should be a Home Owner

Five Reasons why you should be a Home Owner


If you've been on the fence about buying a home, now is the time to jump off!! Don't let the negative press deter you from one of life's greatest joys.


1. Build Equity. When you pay rent, you never see that money again. It is lining the landlord's pocket. Yes, buying a home may come with some hefty initial costs (downpayment, closing costs, inspections), but you will make that money back over time in equity built in the home. Historically, homes appreciate by about 4 to 6 percent a year. Some areas are still experiencing normal appreciation rates. For the areas that have seen harder times since the recession, experts feel that the housing market will recover. Homeownership is about building long-term wealth. A home bought for $10,000 in 1960 is most likely worth 10 times that in today's market.

  Five Reasons why you should be a Home Owner

 

2. Make friends: Renters tend to see their neighbors come and go quickly. Some people sign year leases while others are in the community for much shorter terms. Apartment complexes also tend to have less common shared space for people to meet, greet, and socialize. Homeowners, however, have yards, walking trails, or community pools and clubhouses where they can get to know each other. Neighbors stay put much longer (at least three to five years if they hope to recoup their closing costs). This means more time to develop relationships. Research has shown that people with healthy relationships have more happiness and less stress.

 

3. Predictability: Well, as long as you have a fixed-rate term on your mortgage it's predictable. Most people buying homes today know that a fixed-rate is the way to go. This means your payment amount is fixed for the life of the term. If your mortgage payment is $500 today, then it will still be $500 a month in 10 years. This allows for people to budget and make solid financial plans. The sub-prime crisis meant many homeowners with adjustable rate mortgages saw their monthly payments rise and then rise some more. Homeownership, though, generally comes with a predictable table of expenditures. Even the big purchases are predictable. You know most roofs last just 15 years (or so). You know that each year you'll need to pay for the gutters to be cleaned, and so on.

 

 

Five Reasons why you should be a Home Owner

 4. Ownership: Homeownership means you "own" your home. That comes with some incredible perks, though! You can renovate, update, paint, and decorate to your heart's desire. You can plant trees, install a pool, expand the patio, or do holiday decorating that would rival the Kranks (if the HOA allows!). The bottom line is this is your home and you can personalize it to your taste. Most renters are stuck with the same beige walls and beige carpet that has been standard apartment decor for 20 years. Now is your chance to let your home speak!

 

 

 

5. Great Prices: It's a great time to buy. Interest rates are at historic lows. We're talking 4 percent instead of 7 or higher. This means big savings for today's buyers. Home prices have also taken a dip since the recession, which means homes are more affordable than ever. If you have steady income and cash for a downpayment, then be sure to talk to your local real estate agent about what homes in your area could be a fit for you.

 

It's time to make that move!!!

 

To search the entire data base of homes for sale in real time with photos , descriptions and community information, visit my website by clicking:     HOMES FOR SALE


Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert 

Assoc. Broker/Owner "The Congressional Team" RE/MAX

Licensed in MD & Wash DC

8937 Shady Grove Court
Gaithersburg, MD 20877
Cell: 301-742-1172
Office: 240-403-0399 X306

http://www.premiermarylandhomes.com/


Can I help a friend or family member with their Real Estate needs?  You can count on me!

Comment balloon 2 commentsRick Reed • November 11 2011 09:50AM

Comments

Great post - buyers really do need to get off the fence.  Prices and interest rates won't stay as great as they are forever and many would be buyers are going to see they missed the boat.

Posted by Terry McCarley, REALTOR, SRES, CDPE - Cape Coral, FL (REMAX Realty Team - Cape Coral FL) about 6 years ago

Great post.  You touch on the intellectual side, and the emotional side of the benfits of homeownership

Posted by Susan Jackson (America's Network Realty Group, Inc) about 6 years ago

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