Benefits Of Buying A Home Now Rather Than Delaying
This BLOG On Benefits Of Buying A Home Now Rather Than Delaying Was Written By Gustan Cho NMLS 873293
I was asked this question this morning. In twenty years as a real estate professional, real estate investor, stockbroker, investment banker, mortgage broker, contractor, board up service, landscaper, and pretty much any other profession that lends its support to the real estate business, I’ve been asked this question hundreds of times. Why should I buy and why should I execute a home purchase now.
Benefits Of Buying A Home Versus Renting And Paying Rent
When asked, I’ve always given measured, logical answers; paying rent vs. a mortgage payment, writing off the interest on your taxes, it’s a good investment, etc.
Benefits Of Buying A Home & Reasons To Purchase Now
I took a couple of minutes and reflected on my own personal top five reasons of why I enjoy home ownership.
- In 2009 when the real estate market was in dire straits, I was thinking of selling my home and moving into a smaller home with a lower
- I discussed it with my family. My daughter, in kindergarten at the time told my wife and I that she really liked her room and didn’t want to move.
- It really hit home and struck me how important and personal a home is to each person that lives in it, especially children.
- It’s where they grew up, where they spent the holidays, where they had their birthday parties. It’s not just a piece of property, it’s a home.
- In January I decided to finish my basement.
- My son, a sophomore in high school agreed to help.
- We designed it together. It was a little unnerving how much attention he paid to the bar area, but he had some good ideas and we used them.
- We put together a list of materials and got to work.
- We did a little each weekend. We spent time together.
- We talked about sports, the future, family history.
- We finished it all ourselves.
- Took a million pictures, created some great memories and passed on to him some do it yourself skills my dad taught me.
- Hopefully he can pass them on to his children in his home someday.
- Pride in ownership.
- Driving down the street you can see houses of all shapes and sizes. Some have well-manicured lawns and flower beds. Others are overgrown with toys and other debris all over the place. As part of my daily routine I do one small thing around the house each day. Whether it be cleaning some fingerprints off the door or taking the weekend to power wash the deck. Not hard work. Just steady attention. It gives me a personal feeling of accomplishment and our home stays in tip top condition. I’ve had friends and family come by and asking for the number of my handyman and my landscaper.
- A nice compliment.
- My mom recently stayed with us for about a year.
- She cooked every night (my wife loved it) and the meals took me back to our kitchen table in the home where I grew up.
- With five kids eating as fast as they could so they could grab that last pork chop.
- My brothers, sister and I still talk and laugh about it.
- The kitchen is where we spent most of our family time in my youth and where we still do today with our family.
- The preparation and the meals are a time to talk about your day, or in many cases forget about your day.
- Get creative and experiment. Last week we made a huge pot of pasta sauce and the kids came up with some interesting ingredients.
- As the dad I have veto power over anything too creative. The idea is to get everyone involved, share, and have fun.
- All these things are a great part of home ownership and make owning a home part of the fabric of our lives and memories.
- A word of caution.
- Don’t buy more than you feel you can afford comfortably.
- All of the above mentioned joys of home ownership are tarnished if you have to struggle to make house payments.
- Small house, big house, medium house. They’re all equal in the eyes of a child. It’s their future, their values, and character you’ll be building over the decades of home ownership.