I just read a great article about why Home ownership is wonderful.
1. Rates are low, which means you spend less than in the past for the same priced home.
2. Payments are fixed. With renting they can go up every year.
3. Its YOURS! paint it, add a pool, put a statue of your dog in the yard, put up Christmas lights that rival Tim the Toolman Taylor, etc.
4. Neighbors, want to borrow sugar o...r have someone pick up your mail. You've known them for years and can trust them. In rental areas, the people come and go as their leases end, no continuity.
5. Entertaining in a yard!! How fun is that. Barbecues, block parties, just more fun when its your place.
6. EQUITY. Each month part of your payment is going to the principal. A $10,000 home bought in 1960 is worth well over $100,000 today.
7. Budgeting is easy when you know your payments will always be X, build in a little for a new roof every 15 years or so, and periodic upkeep. The writer of the aritcle said it better and more in depth, but this is a synopsis.
So get out there and get a realtor, preferably me (806-672-3082 in Amarillo) and buy yourself a home. Start building equity, budgeting for the future, making a home say "YOURS" and getting some great neighbors.
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