To Buy Or Not To Buy?
Don’t want to go all Shakespeare on anyone, but buying a home is a commitment, not a game.
So, if you’re sitting on the fence about whether or not to buy a home we have some things to consider for first-timers—or any-timers for that matter.
Buying your first home is a big step. There’s a lot you need to know to make the right decision or avoid making the wrong one. That’s even more true in this current market. There are a lot of homes available and sellers have been more motivated.
If you know how to work the market or are working with an agent that knows what they’re doing there are some great opportunities to get your dream home at a dream price.
So this is what it’s come to: Own or rent?
Without doubt, owning your own home has some responsibilities that you don’t have to worry about when you’re renting.
Silly things like a mortgage, property taxes, insurance, repairs, just to name a few. But, ask any Financial Advisor – or even an existing homeowner and they’ll tell you there are far more advantage to owning, rather than renting.
• In most cases, with history on your side, you’ll lose more money renting than you would if you were a homeowner. Owning builds your equity, instead of your landlord’s
• Sure, there are market drops, we’re coming out of one of the largest drops in history, but owning has been a pretty sound financial investment
• If you rent you cannot take advantage of any ongoing tax benefits—like deducting property tax or mortgage insurance from your income tax
• Owning your own home not only is a good investment, it’s an investment in a higher quality of life, especially if you’re planning a family—we used to rent an apartment and can’t imagine trying to raise kids there, especially with neighbors above, below and each side
• There’s infinite satisfaction and pride in ownership, you can decorate or landscape any way you like and make your living space more personal and you’d probably be hard-pressed to find a landlord that would let you do that.
Are you ready to buy a new home in Omaha. Call us, 402.639.8558 or click the contact button on this page and we’ll help you determine what your buying power is and start you on the path to a new home.
Consult with your financial or tax advisor before making any financial decision.
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