Monday, April 25, 2016

Advantages of Ownership in Austin

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If you’re renting a home or apartment, now might be a great time for you to buy a home. Renters might have some reservations and fears about buying a property. However, owning a home comes with a lot of advantages.

First of all, when you own a home, you are paying into your own investment rather than someone else’s. If you’re renting a home, you’re paying down your landlord’s mortgage. Why not turn the tables and pay into your own mortgage? Then you can take advantage of the appreciation when it’s time to sell.

Right now, we’re also seeing a lot of rent hikes. The market is hot and prices are increasing, so rent is going up as well. Buying a home will stabilize your monthly payment. You won’t have to pay an additional 5% each year if you purchase your own home.

Some renters are hesitant about buying a home. A lot of our clients have asked, “Should I wait until the market gets better before I buy?” There’s never a wrong time to buy the right home. If you find a place that meets your needs in terms of size and location and the monthly payments fit in your budget, why not make that purchase?

Another fear potential buyers face is not being able to afford your dream home.The first step to buying your dream home is buying your first home. The average homeowner stays in a property for seven years. During that seven years, you will build equity which will help you purchase that dream home in the future.

If you have any questions about today’s video, give us a call at 512-531-2923 or send us an email. We can help you get on the right track to meet your real estate goals. We look forward to hearing from you!