Don’t Be So Afraid of Homeownership

We address some of the scarier parts of renting and homeownership.

We wanted to talk today about some of the common fears around buying a home and the scarier parts of renting. There are some drawbacks to both, so we wanted to take some time and talk through them a bit.

A lot of people we talk to are afraid of having to handle their own repairs. They feel it’s a lot easier to just reach out to a landlord instead. However, you can make this more manageable by getting a home inspection both when you buy and every couple of years after that. That way there won’t be any surprises. On top of that, doing small, constant maintenance and getting homeowners insurance can help alleviate problems when they come up.

It can also be scary when you think about the wealth-building aspect of renting. When you pay rent, you’re paying your landlord’s mortgage payment and then some. On top of that, they’re getting tax benefits from homeownership that you are not. If you buy a home, you’re building your own wealth instead of your landlord’s.

“We want to be your resource for life.”

Another scary concept is that rent prices will rise almost every year. With a home, your mortgage payment is fixed for a long time. You may see some adjustments in the taxes that you owe, but those adjustments are usually slight and rare.

You might be afraid of not knowing who to call for repairs or other needs that your home has. Most Realtors, like us, are going to have a list of trusted professionals to call. We want to be your resource for life. However, some Realtors aren’t like this, so it’s important to interview multiple agents and choose one who’s going to make your life as a homeowner easier.

We understand that buying a home is not for everybody. There are different responsibilities and rules to renting and owning. We’re not trying to talk you into buying a home if it doesn’t make sense for your situation. We just want to help you look at your options and decide what works best for you.

We’re here to haunt you, as cheesy as that sounds. So if you have any questions about this or other real estate topics, feel free to give us a call. We’d love to be a resource for you.