3 Reasons You Should Consider Purchasing a Home
Renting is easy.
You are not responsible for any maintenance to your property. You do not have to pay property tax or insurance. You may not even be responsible for utilities in some cases. Yes, it is true there are many perks and benefits to Renting. But then again there are some downsides. For example, you may not be able to make in cosmetic work to the actual place like painting. You also are subject to a binding lease or contract. And finally you are not actually paying yourself.
Let me share 3 reasons why I think you should always consider buying after you have rented
1.IT’S YOUR’S!- once you get pre-approved for a home, and you settle on a property, it is your's legally. Especially when you pay off your mortgage, you own your home! That means you can what ever you want to it!
2. HOUSE HUNTING: so this process can stress people out, but you can actually pick a home that fits your budget, lifestyle, and in some ways it can have everything that you would want out of a home. If there is cosmetic work that needs to be done you can do it on your own.
3. YOUR HOUSE IS YOUR BANK! Although you are paying the bank for the mortgage, that money can act like an ATM Machine. You have the ability to borrow against your home, take out a revolving credit and use the money to go on vacation, make updates to the property, pay for a wedding, pay for college , or what ever your hearts desire. A lot of people use this option when they need to consolidate debt and boost their credit scores.