4 Reasons for Spirit Lake, Iowa Residents to Stop Renting & Buy a Home
One of the greatest debates among people is whether it’s better to rent or buy a home. Though opinions vary from person to person, there are some undeniably good reasons to become a homeowner. EXIT Realty Midwest offers Iowa residents expert help with house hunting and the entire home buying process.
If you’re trying to figure out if purchasing property is the right move for you to make, the company’s real estate agents suggest considering the following benefits:
- Build Equity: It’s important to think about where your payment goes for rent every month. When you buy a home, the monthly mortgage payment gets invested back into your future, whereas rent money goes directly into the landlord’s pocket. Instead of building equity like you would as a homeowner, you’re spending money you’ll never get the chance to see again.
- Be Done With Difficult Landlords & Neighbors: Dealing with landlords and inconsiderate neighbors can be extremely difficult in rental situations. You must depend on the landlord for repairs and maintenance, which often must wait until they get around to it. While you’ll have neighbors as a homeowner as well, they won’t be in such close proximity where you can hear everything they’re doing.
- Ability To Make Changes: One of the greatest advantages of being a homeowner is having the ability to infuse a house with your own personal style. Most rentals don’t allow tenants to make any distinct changes. This means you’re never really allowed to make your living space truly feel like home.
- Fixed Monthly Payments: As the real estate market fluctuates, so can rental and housing prices. The difference is that you may be able to afford your rent perfectly fine one month and then find out it’s increasing to a price that will force you to move out, but on the other hand, many home purchases can negotiate a fixed mortgage rate that will remain the same no matter which direction the market goes in.
When you decide to buy a home, you will be receiving the most valuable investment of your life with some additional perks as well. Contact EXIT Realty Midwest at (712) 336-3405, or visit them online to learn more about finding the home of your dreams.