9 Reasons to stop renting and become a Cothran homeowner!
April 19, 2016
Selling people on the idea of homeownership isn’t usually too hard. After all, it’s the quintessential American dream. From the sense of security to the sense of community, not to mention the financial benefits, the advantages of owning a home – especially a Cothran Home – are clear. The townhomes available at the Townes at Brookwood in Simpsonville are a great investment. They are low-maintenance, high style, with luxurious features & finishes, and quality craftsmanship. This private gated community offers landscaped yards & irrigated grounds, as well as plenty of customization options. Still on the fence? Totally understandable. Deciding to buy a home is among the biggest financial decisions that many people make. The advisability of buying versus renting depends on many things – location, financial stability, future plans and lifestyle preferences. Here are a few reasons to consider buying a home:
- Building equity. A renter’s monthly payments only benefit the landlord. Mortgage payments made by homeowners build equity for them.
- The home will be yours. As a renter, you have a limited ability to personalize your living space. As an owner, you can have things just as you want.
- A measure of inflation protection. Studies by Case-Shiller suggest that, over the long term, housing has beaten inflation by a couple of percentage points a year.
- It is forced savings. Part of a mortgage payment goes towards the principle repayment. You’re paying yourself by building equity. As a forced monthly savings, it is a good discipline.
- Stable housing costs. The curse of renting is the inevitable increase. With a fixed-rate mortgage, the payments are fixed for the life of the loan, a clear advantage over rental market fluctuations.
- Tax benefits. Homeowners enjoy tax deductions on interest payments and property taxes.
- Controlling your destiny. A renter is always at the mercy of the landlord. As a homeowner, the power is in your hands.
- You’ll get a better home. It’s getting harder to find a good rental. If you want the best home, in the best neighborhood, you may be better off buying.
- It can be cheaper! In most cases, the monthly mortgage payment on a home can be lower than the monthly rent on an apartment of the same size!
Always consider the true cost of renting, investing your money – month after month – in something you don’t actually own. Instead, turn that rent payment into a down payment on a home of your own. Quit throwing your money away. Buy a carefree Cothran home at The Townes at Brookwood. Call or visit us now and start investing in your Cothran home today!