If you’re trying to determine whether it’s better to own or rent a home, there are many factors to consider. Both options have their merits and downsides. Owning a home might seem like the more overwhelming choice of the two, yet there are lots of reasons to consider it. Here are some of the major benefits to home ownership:
Increase Value
Buying a home is an excellent investment. The value of your property can increase naturally over time and even more so with every upgrade to your home. Even responsible upkeep can be enough to maintain and increase the value so that you can get a great price if you decide to sell. If your home is in a quickly growing area with popular schools, access to services and other desirable traits, you will hold incredible value by owning your own property.
Predictable Costs
When you own a home, your regular costs rarely fluctuate. While usage-based utility bills can certainly vary from one month to the next, your mortgage payment will always be the same. This makes budgeting easier and can help you prepare your finances. Property taxes and HOA fees are other examples of regular costs that you can expect on a set schedule.
Freedom to Customize
Home ownership means you have complete flexibility with things like renovations and design. Rather than face restrictions and fees for painting the walls or putting up shelves, you can make those decisions yourself. You can tear down walls, build additions or even replace the roof at will. If your home has outdoor space, you can control your own landscaping design. Freedom to customize your home means the freedom to make it your own.
Home ownership is not for everyone. However, there are some excellent advantages to consider if you’re trying to decide on your next steps in real estate. Keep these things in mind to help you make the best choice.
About the Author
Cheryl Pendenza - Realtor®/Broker Associate
Bringing more than 30 years of experience to the table, Cheryl has a paralegal degree, banking background, and is a member of many professional, civic, and community organizations.
Qualified • Experienced • Skilled
"As a full-time Real Estate Broker, I am dedicated to providing my clients with a high level of service by building relationships, marketing, and negotiating on their behalf. As a homeowner, I realize how important homeownership is.
Cheryl brings warmth and compassion to her client relationships and referrals have become the backbone of her business. "I’m grateful for every referral and welcome the opportunity to help clients achieve their real estate goals.”
Cheryl Pendenza, Broker Associate affiliated with RE/MAX Andrew Realty Services since 1999 is a local businesswoman and formidable negotiator who can help you achieve your real estate goals. Supporting family, community and local business is important to Cheryl and she can often be found at one of the local restaurants, shops, or galleries.
