Should You Rent or Buy?
As a child, when you imagine yourself grown-up, you see yourself buying a house for your own, with a movie theater, a basketball court, and an ice cream machine. However, as soon as you finish college, you get that underpaid job. You soon come to realize buying your own house is completely out of your reach. At this point, renting is the only option you have. So, you go for it. As time passes by, you start to get a momentum of growth both financially and mentally. All of the sudden, your rental seems too small and you’re dying to redo the kitchen and add a balcony. But then, you remember you’re renting and can’t do as you please. You start thinking, should You Rent or Buy?, but it seems so terrifying because there are so many individual factors to take into consideration: What can I afford? How are my savings? What is a mortgage even like? What are my financial, career, and family goals? Do I want a modern sophisticated Jacuzzi or a cozy family-friendly dining room? And the list goes on and on (I got overwhelmed just by writing that down). But hey, don’t be discouraged. It isn’t as hard as it seems and there are many benefits to buying a house.
Benefits of buying a house
- Greater Privacy: Meaning you don’t have to deal with the lady from upstairs yelling at her daughter to get ready for school at 6 am.
- More Space: You can finally have that backyard you’ve dreamt of, and your dining room, living room, and kitchen aren’t cramped up in a tiny room.
- It’s Your Own: When you rent, you’re basically pouring your money into the owner’s pockets, whereas by buying a home, it belongs to you in the long run. And, you can even turn it into a source of income down the road.
- Renovations Also Belong to You: Although there are many landlords who do not allow renovations, there are others who do. But, those renovations are in their benefit. As a homeowner, all renovations belong to you and said renovations can increase your home value.
- Increasing Market Value: Over time, the market value of a house tends to increase. And if you’re planning on buying in Cabo, trust me it will gain value. So, if you buy a house at a certain price, that price will increase in the future and your purchase is basically an investment. You will be able to gain more out of it as time passes.
- Freedom and Independence: Being a homeowner, you get to call the shots. You’re in charge and no one else’s opinion matters (okay, maybe your partner’s opinion does).
- A Sense of Stability: Having a home provides a sense of having a special place to call your own. A place where you can build memories for the rest of your life.
So now that you’re pumped about the benefits to buying a house, I’m going to share a secret with you.
How do you turn the complicated process of buying a house into a delightful experience?
80 % of millennials use real estate websites or social media to find living spaces. I am pretty sure that’s exactly how you found where you’re living at now. But, between going to work, buying the dog’s food, going to Alex’s birthday dinner, and being a human, you have very little time left to actually search for your dream home.
The first step to finally buying your house is hiring a real estate agent. Yes, this means paying someone to do what you could do, but, there are many benefits of doing so. Coldwell Banker Riveras is here to help you out with the experience and make it as enjoyable and stress-free as possible. We will become your ally in this search. We offer personalized attention and vast knowledge of the market. We are experts in the oh-so-terrifying mortgage, notary, and trust processes.
One of the most important aspects to consider when buying a house is who you’re buying it from and the condition the house is in. At Coldwell Banker Riveras, we make sure every house listed is in order and ready to be purchased. As professional realtors, we take care of all the time consuming issues. We promise to guide you step by step through the purchasing process and we will make sure you get the best mortgage.
Buying a house is one of the most important decisions of your life. While it is something you can do on your own, having professional realtors help you through it is the best option. So, this is it, get ready! You’re one step away from living in your dream home.
Don’t forget to share your wonderful experience with friends and family.