If you have been debating or are on the fence about home ownership, it may just be the time to take the next step toward buying a home!  Although there are some advantages to renting, owning a home can be one of life's greatest joys, and it does not have to be as overwheling as it may seem.  I recently read an article about the simple joys of owning a home, and I think it's worth checking out!

1.  Equity:  When you rent, you never see that money again.  Yes, purchasing a home does come with hefty inital cost; however, renting is simply at the advantage of the landlord.  When buying a home, you earn that money back over time as equity built into the home.  Historically, homes appreciate by about 4 - 6 percent per year (although in today's market, it is likely to be less than that).  Although some areas have experienced harder times, experts strongly believe the housing market will recover.  Home ownership is about building long-term wealth. 

2.  Relationships:  Renters often only see their neighbors coming and going.  Apartment complexes tend to have less space for people to meet, greet and socialize.  Neighbors tend to not stay for very long, usually only leasing a property for about a year.  Neighborhoods occupied by owners tend to build relationships.  People enjoy getting to know each other, as these are probably going to be your neighbors for a long while.  

3.  Predictability:  As long as you have a fixed-rate term on your mortgage, it is predictable.  Most people buying homes today realize that a fixed rate mortgage is the way to go.  This means your payment amount is fixed for the life of the loan term.  This allows for people to budget and make solid financial plans for the future.  Home ownership generally comes with a predictable table of expenditures. 

4.  Ownership:  Owning a home (as opposed to renting) comes with one of the greatest perks: feedom!  This includes creative freedom to renovate, update, paint, and expand; the possibilities are endless.  The bottom line is, it's your home and you are able to personalize it your exact tastes and liking.  Renters are often stuck with the standard beige walls, beige carpet, and are often only allowed strict guidelines to anything outside of that. 

5.  Great deals!  It is a great time to buy.  Interest rates are at historic lows.  This means big saving for today's buyers.  Home prices have also taken a dip, which means homes are more affordable than ever.  If you have a steady income and money for a down payment, now is the time to buy!

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