Exit Realty Advisors

Looking for reasons to stop renting and buy your first home? Here are 8 good ones:



Build Equity: The major advantage to buying a home versus renting is that you build equity over years of ownership. Not only will you be able to sell it for a profit but you can leverage this value to take out lines of credit.
Freedom: Ownership gives you the right to upgrade your home, rent it out to tenants, sell it and do with it whatever you please.
Lock In Payments: When you buy a home, you secure a monthly payment that you will pay for the rest of the time you own the home. Tenants have less control of their payments because rent can increase from lease to lease.
Increase Line of Credit: Buying a home increases your line of credit and can help you get a higher credit limit and get low interest rates on credit cards and loans.
Make a Profit: Whether you’re a first time buyer or a business-savvy homeowner, you have the ability to make a profit when you own a home. When renting, you never make a profit because you don’t own the property.
Payments Eventually End: A major advantage of buying a home versus renting is the simple fact that mortgage payments will eventually end one day. It usually takes about 15 to 30 years to completely pay off your house and own it for good. When renting, the payments never end.
Home Value Increases: After years of owning a home, its value increases. So when you sell, you can usually turn a profit versus renting where you have nothing to show for all those payments.
Emotional Satisfaction: Homeowners feel greater emotional satisfaction from having a piece of property in their name and investing their time and money toward something as important as a house.