Tired of Renting? 5 Reasons to Consider Homeownership
Lyra Plan 3 | Los Angeles | Pardee Homes
Homeownership – it’s part of the American Dream. Most of us dream of having a place of our own at some point. Of course, being a homeowner means new responsibilities. There’s no apartment manager to call when you need an A/C filter changed or landlord to fix the sink that won’t drain. However, it also brings plenty of benefits that make being a first-time homeowner not only exciting, but also rewarding. Here are five benefits to buying your own home.
Build home equity.
Unlike a rent payment that is strictly a monthly expense, each mortgage payment you make reduces what you owe and helps you build equity or ownership in your home investment. As your new home’s value increases, so does your equity. Consider it a savings account with the bonus of being a beautiful living space. It also helps you build a credit history and grow your net worth.
Enjoy tax advantages.
As a first-time homeowner, you may now enjoy tax advantages not afforded to you as a tenant. Mortgage interest and property taxes up to certain limits may be deductible. In addition, buyers may be able to deduct any points (pre-paid interest) paid when closing the loan if taxes are itemized.
Customize your home.
Customizing an apartment might consist of adding a few throw pillows and a rug. After all, investing dollars to upgrade a living space owned by someone else just doesn’t make financial sense. That all changes with your new home. At last, you can create a home that reflects you. Maybe you are drawn to a trendy bold black kitchen, or you want to personalize your new home’s guest bedroom into a home gym. The Pardee Homes Design Studio brings the latest colors, finishes, product selections and styles together all in one place for your designing delight. Best of all, you have the designers’ expert advice and assistance to turn the vision in your head into your dream home.
Enjoy your space.
One of the best parts of homeownership is having your own space to spread out. Say goodbye to the days of being cramped in that overpriced and undersized rental. Pardee Homes’ array of architectural designs and floor plan sizes, coupled with gorgeous oversized lots in multiple communities, let you decide how much space is just right. Regardless of the Pardee community you choose, you’ll enjoy the extra space of a well-designed floor plan, outdoor living and yards that extend the useful area of your home, and ample garages to tuck away your cars and toys.
There’s not much a tenant can do to fix a poorly insulated rental home, or an apartment building’s wasteful watering systems. New homes make that green commitment easy. As a new Pardee homeowner, you reap the benefits of Pardee’s LivingSmart® homes that enhance energy efficiency and indoor air quality, and conserve our natural resources. It’s a win-win: you save energy and dollars, and are helping sustain our region’s natural beauty.
Are you ready to make the transition from tenant to homeowner and reap the benefits? Contact a New Home Specialist today.