Why Rent When You Can Buy a Home Now in Central Indiana?

Sales in the real estate market today are still experiencing weak returns, but many home buyers are seizing this opportunity to make their home ownership dreams a reality; and maybe renters should think the same.  There are many advantages to owning a home now compared to years back.  While the home buying process may be laborious and stressful, the benefits in the long run will accumulate.

If this isn’t enough to motivate you to consider buying a home now; here are a handful of reasons to consider purchasing a home and not just renting:

1. Hundreds of homes for sale to choose from – While it’s hard to arrive at an exact number of available homes for sale in the market, listings on the internet are just proof that the market’s flooded due to what the country experienced economically years back.

2. Renegotiating and getting more from it – Again, due to the influx of existing homes for sale  (and some are taking longer to be sold than others) sellers themselves, sadly, have to lower their prices, share closing costs, and give away other fixtures or furnishings in the house.

3. Long-term benefit of home equity – It might be that while you’re renting, that’s really all you’re going to think about every payday, payment for your rent.  And while owning a home requires paying monthly mortgages, insurance premiums, and all other expenses; your payments build up towards something tangible that you can call your own someday, unlike when renting.

4. Immense benefits and satisfaction of owning a home – When you’re renting, more than likely, your activities are limited and are bound to HOA guidelines.  As for being a home owner, you can do what you desire to do and invite as many people as you want to in the comforts of your own home.  Remodelling, redecorating, rearranging the furniture and such are easily done; unlike renting, where you typically just have to make do with  limited space and a landord’s guidelines.

5. Love thy neighbour as yourself  – It’s much easier to establish long-lasting relationships among neighbors in a community of homes than in a condominium or an apartment.  Other renters you know may just easily move somewhere else; unlike when owning a home.  You’re more likely to stay put and participate in community activities.

6. Interest rates are on the low and even no money down programs can found– If you have bad credit standing though, it may be more difficult for you to take advantage of  these privileges.  But if you have a good credit statement, then grab this opportunity at once.  You may ask a local professional to learn more about these and their requirements.

While it may be true that renting may just be more convenient for others and owning a home is only for the few; it is quite true as well that buying a home now is much more convenient and the benefits it can incur will be for a life-time.  Lastly, experts say that you can ‘detect’ if you’re better off buying a home than renting by multiplying your monthly rent by 240.  Now, if you can buy a house for less than that, you are much eligible to be a home owner.  Are you thinking of taking the plunge?  Why not take it today?

About the Author

Ricardo LaHaye is a freelance writer who specializes in real estate and investment.