Are You Ready to Take the Leap into Home Ownership?
Are you tired of paying someone else’s mortgage while renting from them? Are you ready to take the leap from renting to owning a home of your own? While we all move at their own pace, here are some indicators to help you determine if it is time to own your own home.
Here are four great reasons that would indicate you ARE ready:
You are planning to reside in Charlotte for 2 or more years
If you plan on moving soon for a job or think that you won't be in Charlotte much longer, it may be better to rent. However, if you are thinking about living in Charlotte or for years to come, it is time to put down roots…and now! The stability that comes with homeownership is far superior to moving from rental to rental or even just staying in the same place for years. INVEST your money in real estate - you’ll be glad you did!
You have a steady job
If you have a steady job and know that your salary is stable, why not make the move to homeownership? As long as there aren't any other major debts eating away at your income, you can likely handle a mortgage and other costs associated with homeownership. The equity that you build in your home can help you build future wealth. Your home may also make a great rental property in the future, which can help you diversify your portfolio and keep you solvent for years to come.
*Infographic courtesy of KCM; Source - AR & US Census
You have maintained your good credit score
Even if you haven’t, there’s no time like the present to start re-building your credit. Never give up on improving your credit score - it follows you through life. Speak with a credit advisor or our recommended lenders for more information on establishing credit and/or improving your score.
*Infographic courtesy of KCM; Source Ellie Mae, Rent.com, Freddie Mac
Your rental rate has increased
88% of property managers across the US have raised their rental rates. Why? Because they can! Seriously, with rental demand at the highest level in recent years and the rental inventory at an all-time low level, the market force of supply & demand takes effect - rental rates are increased. Most buyers realize that they can purchase a home for less than the rent payment they are making each month.
*Infographic courtesy of KCM; Source, Pulsenomics
Are you ready to be a homeowner in the near future? Only you can say for sure if it is time to that that leap. However, if you are looking for a long-term housing solution, you are likely ready to make that move. For more information on homeownership, let’s talk! Call or text (704) 491-3310.
© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | Are You Ready to Take the Leap into Home Ownership?