From Renting to Buying - For First Time Home Buyers

First Time Homebuyers - The Pros of Buying a Home

Are you thinking about buying your first home, but not sure if it's the right move for you? We understand what that feels like. Deciding to buy a home is a major decision, but it doesn't have to be difficult.

Our team is consistently among the top 5% of local agents. And we've helped hundreds of home buyers, just like you.

Here are three reasons why you may want to make this the year that you stop renting and purchase your first home.

One: The cost may not be as high as you think. While sales price does matter, your monthly payment has the biggest impact on your day to day life. With today's low interest rates, it's possible for many people to find a home with a mortgage payment that's similar to what they're paying in rent.

Two: Equity and wealth. According to the Federal Reserve, the net worth of the typical homeowner is 40 times that of the average renter. Since homes typically appreciate in value, homeowners often receive a return on their investment through monthly payments and the natural appreciation. Meanwhile, rental costs are sunken costs with no return on your investment.

Three: Ownership and control. While many homeowners have to comply with HOA or condo rules, for the most part, you have more flexibility over what you do and how you live in your property when you own it. Want a dog? Go for it. Interested in painting walls? There's nobody to stop you. When you own a property, it's yours and you get to make the rules.

Beyond those three upsides, there are many other advantages, including more predictable monthly payments that aren't subject to rent increases, a sense of stability and community and the tax benefits of home ownership.

So there you have it - three reasons (and a couple of bonus perks) why you may want to consider becoming a homeowner this year. And while we know many of you are waiting for our competitive market to calm down, trends show that it's still likely to be a better time to buy right now, as interest rates and prices are both predicted to rise.

If you'd like to learn more and see if this is the year for you to become a homeowner, reach out to our team - we're always here to help coach you through the process. Let's talk soon.