First Time Homebuyer? Here are 5 Reasons to Own a Home
Buying your first home is one of the major financial decisions you will ever make. It’s one of the biggest milestone that you want to cross off your lifetime bucket list but why should you do it? We listed some of the reasons for you.
1. Appreciation. Median single-family home values have gone up 5.8% over the past year. Zillow, the leading real estate online marketplace, predicts home values will rise 7.0% in the next year. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.
2. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
3. Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.
4. Freedom. The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
5. Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.
BONUS TIP: If you are a First Time Homebuyer looking to buy a New Construction Home, make sure you’ve done your research about the community.
Checkout The Preserve At Pendleton, the newest community in the Clemson and Pendleton area, is strategically located for you to experience the joy of small town life while all of the conveniences of life are just a short drive away.
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