Buying a home is a big step but in many cases, it's the best option! Renting has a few perks but the benefits of homeownership usually outweigh them. Our Lake of the Ozarks mortgage lender gets asked about the benefits of buying a home at the Lake of the Ozarks versus renting. And that's just what we're dedicating our blog to answer this week. Check out the top 5 reasons Team Lasson believes buying is more superior to renting.
1. Long Term Investment
Real estate is typically a solid investment. Over time, the worth of your home may increase, therefore offering you a great return on your investment. A mortgage is typically a 30 year loan, although many buyers don't stay in their first home for that long -- it's still important to think long term when investing in a home.
2. Predictable Monthly Payment
Rent payments can change with little notice and typically increase year after year. The monthly payment your lender quotes you is usually what you can expect to pay on your home until your property is paid off. This number may fluctuate a little as your homeowners' insurance and other factors can impact your monthly payment, but you can usually plan your budget well in advance as to what your mortgage payment will be each month. This helps when budgeting and planning for future financial goals.
3. Provide a Stable Environment
Having a solid home base can provide a sense of security. Get out of the yearly cycle of finding a different place to rent and plant your roots in a home. Moving frequently can be exhausting and quite frankly, a big added expense. Provide yourself and your family with a stable environment when you purchase vs rent.
4. Create Your Own Space
Many first-time buyers are excited to be able to make their house a home. You can paint the walls any color you'd like, hang pictures and decor on the walls without the worry of getting a deposit back, and make exterior changes to make the home yours. There are so many avenues to get your creative energy out and to put your own personal stamp on your space!
5. Personally Rewarding
Buying a home is a big accomplishment and something you should be very proud of. Give yourself the opportunity to show pride in what you are able to do and provide for your family! It really is a rewarding feeling to be a homeowner.
Whether you're particularly excited to experience one of these homeownership perks or you're excited for them all, allow our Osage Beach mortgage lender the honor of helping you become a homeowner at the Lake of the Ozarks! Our team of experienced lenders can walk you through the steps of getting preapproved for a home loan at the Lake of the Ozarks. Call (573) 746-7211 or visit our website at www.yourlakeloan.com for more information.
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ReplyDeleteGerberian Shepsky
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