Does owning a home make sense for you?

by Vanessa Linn on May 23, 2011

If you have never owned a home before, I can only imagine how worried you might be about homeownership.  It is, after all, the largest purchase most of us will ever make in our lifetimes.

So you ask yourself, what’s in it for me? Better yet, ask yourself these two questions: what do you like best about your current home, and what do you like least?  Make a simple chart with columns to list all the positive things you like about your home and then list the negative.  This will help you determine if you are happy with where you live or decide that maybe finding a new home could be more beneficial.

You already know all the practical reasons to buy a home: tax advantages, low interest rates, and it’s the most affordable time in a generation to buy.  You already know you are throwing away your hard earned money on rent, and maybe you have put all the numbers in a Rent vs. Buy calculator.  But, what are some other reasons to own a home?

You can paint the baby’s room.

Want to have an outdoor party, but you don’t have the space?

The landlord won’t let you have a pet.

Kids don’t have any friends to play with in your neighborhood.

Need space to store all your surf or ski gear, or is it at mom and dad’s house?

You can turn up the volume on your radio and not worry about the downstairs neighbor.

Do you want to plant an organic garden or just a special rose bush for your wife?

Or maybe there are other reasons.

If you have a list similar to that above, then do you know what you just defined?  Pride of ownership. Yep, good old-fashioned pride of ownership.  It doesn’t mean you are old, it just might mean you are ready to own a home. See our new home guide for first time home buying tips.

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