Renting is great when you’re just getting started – fresh out of college, fresh out of high school, wherever you’re making your start. But after a few years of renting, it can get a little… tiring. If you are caught between deciding to rent or buy, this list of the best reasons to stop renting and buy a home can help:
6 Reasons to Stop Renting and Buy a Home
One of the first reasons to buy, not rent, is that you don’t have to deal with your landlord anymore! Landlords can be a hassle to reach and can make simple home repairs much harder than they need to be. Moreover, they’ve got complete tyranny over your finances- at any time, they can just decide that your rent goes up, and there go your vacation plans!
In any case, it’s a nuisance to let someone else own your home. With no landlord, you’ve got the freedom to do what you want to your home – which is the next point.
Freedom to Personalize
When you’re renting a home, it can feel a little stuffy. In an apartment, your landlord might not even let you paint your walls different colors, and oftentimes they’ll take issues with your pets or even the people you hang out with. Get rid of them! When you decide to buy your own house, you can pick how you decorate and who you let in. You can update and fix anything you want, and you can definitely paint that wall a new color. Why would you live as a renter any longer, when you can choose to make your space your own?
Keeping Quiet or Getting Loud
Yet another important reason why you should stop renting and start owning… In an apartment or even a rented house, your space isn’t always your own – quite literally! Loud neighbors and barking dogs are a quintessential part of the renter’s experience, especially in apartments with shared walls, floors, and ceilings. Or, maybe you’re the loud neighbor with the barking dog. Either way, when you buy your own home, you don’t have to put up with it anymore! You’ll have your own space and your own time to do whatever you want, without any interruptions.
Being Proud of Where You Live
When you decide to buy instead of rent, you can be a lot prouder of your space. It’s yours, and you can make it the envy of the whole street. Owning your house grounds you and helps you dig roots into your neighborhood. You can become a real part of the area, and that’s something to be proud of. Like it or not, you own a piece of this block- and that’s really cool.
Saving Money in the Present
Another great thing that comes from renting, not buying, is a savings due to mortgage rates. Oftentimes, mortgage rates give you a lower monthly payment than renting! That’s because, when you’re renting a house, a landlord is typically charging you more than the monthly house payment in order to make a profit on the house. But when you own your own home (especially one of Synergy Homes’ cost-efficient home models), you only have to pay the mortgage payment, and nothing more – leaving a little more in your own pocket for something fun.
Investing for the Future
And, more than keeping some of your pocket cash, owning your own home comes with some more money perks. When you own your own place, you’re building a home that, if you play your cards right, can be sold later for more money. Or, you can become the landlord later in your life and rent it out. See? Owning your own home can make you money.