Purchasing a property is one of the most important financial decisions that you will undertake. As your agent, my duty is to look out for your best interest. My philosophy is a team approach. I will work diligently to facilitate the transaction from the beginning to closing day. It starts by taking the time to care. I will teach and guide you through the various steps of the buying process, prepare all the contracts and necessary compliance forms for the transaction, show you properties, communicate with your loan officer and vendors, and track the stages of the process from the time you submit an offer to the day you are given the keys to your dream home.
Buy vs. rent
The most important reason for buying a home is that it becomes an invaluable investment for your future.
Your future as a homeowner
You will reap many benefits of owning your own home through a lifetime tax benefits and savings. For the life of your loan, your mortgage payment will usually remain the same every month. This gives you the best insight into what your payments will look like now and into the future. After a number of years of payments, your mortgage will eventually be paid off in full. That means you would be clear of any mortgage payments from that point on.
Market conditions tend to change over time, which builds your home's equity. Homeowners can use equity as a viable option to source funds for their needs. Homeowners may also use their equity for other investments such as upgrading to another home, buying more properties to rent, renovating existing property, creating an education fund and the list goes on. With that in mind, always remember that it's important to seek the advice of both tax advisors for tax information and financial advisors for loans and mortgages.
Downside to renting
A renter does not get any of the tax benefits that homeowners receive for owning their property. Most times renters don't have control over their monthly payments. Rent payments can be at risk to increase at anytime.
Renters also don't own the properties they live in. Therefore, they do not have the freedom to make changes to customize their living spaces as they wish. Last but not least, renters will never experience living in a home free and clear of rent.