Buying a House Doesn’t Have to Be SCARY! 

Purchasing a house is a big commitment and can seem very intimidating especially to first time homebuyers. People often become comfortable renting and become hesitant to break the cycle. “I can’t afford a 20% down payment”, “It’s too expensive to buy”, and “I don’t know if my credit is good enough” are all fears that first time home buyers face. We are here to tell you that buying a house doesn’t have to be scary! There are many benefits to buying over renting, and we hope that after reading this blog your worries and anxieties about buying a home will be put to ease.

1. Predictable monthly housing payments

A landlord can raise your rent whenever a lease expires, but as a homeowner, you can lock in a predictable mortgage payment for as long as 30 years.

2. Appreciation

By purchasing a home, you’ll have an asset that, in many cases, will appreciate in value over time. This makes your home one of the best investments you can make and a way to establish a financial foundation for future generations.

3. Tax Benefits

The many expenses of owning a home such as property taxes are tax-deductible. This allows you to keep more of your hard-earned money.

4. Freedom to make modifications

Owning a home gives you the ability to make any changes your heart desires! Lay new carpeting, paint a room a different color, or renovate an entire room. The possibilities are endless. Many rentals won’t even let tenants put nails in the walls which stifles their ability to decorate and really make a house feel like a home.

5. It’s cheaper

Although there’s the upfront cost of the down payment and closing, the monthly payments on a mortgage are often lower than rent. There are also many different loan programs that require as little as 3% down which makes buying a house more affordable and realistic.

6. Increased privacy

You don’t have to worry about noisy upstairs neighbors or hearing every sound from the apartment next to you. No more sharing walls with strangers! Having your own space is a liberating feeling. You can also enjoy the added perk of a private backyard and can put a fence up for additional privacy and security.

7. Build up equity and credit for future purchases. 

Paying a mortgage improves your credit score and increases your equity which aids in being approved for future purchases. You can also convert assets into cash if necessary which is another reason equity is so important.

8. Community ties

Home ownership gives you a sense of pride and often leads to more involvement in the community. Owning a house you plan to stay in for a while also allows you to have an impact on your community with your taxes benefiting local schools and organizations. 

9. A secure retirement

The longer you own a house, the more it should eventually be worth. As you get older, you can sell the home and use the proceeds to purchase something smaller or rent the house out to pay for retirement travels.

10. It’s yours!

Stop paying your landlord’s mortgage and start putting money towards a home you can look at and say that is MINE. 

Don’t let the fear of homeownership scare you away from purchasing your dream home! Ultimately, you are going to benefit from buying rather than renting, financially and personally. Call one of our agents today to take the leap and hopefully you’ll be doing your happy dance in your new home just in time for Halloween!

Call us at 814-459-9400 or visit us online at www.TryAgresti.com