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At the crack of dawn, your enthusiastic labradoodle, Sophie, is ready for her morning stroll. You stumble out of bed and grab your slippers, while wrestling Sophie into her leash, you head down the three flights of stairs your apartment sits upon. With spot leading the way, you embark on a hurried courtyard escapade before rushing her back inside, so you can get ready for work. Are you wishing for a fenced yard yet? Imagine a life where you’re not at Sophie’s mercy for outdoor time. This is where homeownership steps in, rescuing you from the mooning hustle.
The Freedom of Fenced Yards: Say goodbye to those early morning courtyard dashes. A fenced yard becomes your four-legged companion’s playground, giving you peaceful mornings and serene evenings with friends. The convenience of your own outdoor space is just one of the countless benefits homeownership has to offer.
Weathering Storms: As a renter, a basement flood becomes a landlord’s responsibility, leaving you anxious and uncomfortable. Imagine being in control during a storm. Homeownership provides security in managing unexpected situations, from floods to HVAC mishaps, ensuring your comfort throughout the year without waiting on anyone to fix it for you.
Your Space, Your Equity: Life milestones like marriage, new babies, or simply craving personal space often lead to pondering your living arrangements. Ownership grants you not just a room, but a stake in your dwelling, building equity with every mortgage payment. Beyond the immediate conveniences, building equity is a long-term investment. With the housing markets upward trajectory, your home’s value appreciates more and more over time. Owning a home becomes a strategy for savings in your future.
The Power of Tax Benefits: The perks don’t stop at equity. The National Association of Realtors spotlights seven primary reasons for homeownership, including tax benefits. Deducting mortgage interest payments becomes a financial advantage that renters can only dream of.
Painting Dreams and Stability: Renting limits your creative expression within your living space. Homeownership offers the creative liberty to paint walls pink, install a pool, or put up a fence. Stability blossoms through nurturing your neighborhood ties and creating a foundation for long standing relationships and social growth.
Decision Time: Is Homeownership Right for You?: While benefits are obvious, the decision to become a homeowner requires careful consideration. A steady job, manageable debt, a desirable area, and readiness for homeownership costs are factors that weigh heavily. Rocket Mortgage outlines these essential aspects in determining if the timing is right for you.
Taking the Plunge: Steps Toward Ownership: Doubts are natural, but the path to homeownership is paved with achievable steps. Start by finding a lender for pre-approval, allowing you to set a realistic budget and avoid falling for unattainable homes. A trusted realtor (yes, that’s me!) can connect you with reliable lenders and guide you through the pre-approval process.
Partnering with Your Realtor: A Smooth Journey: Once pre-approved, the exciting home search begins within your budget. Constant communication with your real estate expert ensures your preferences are met. Here’s where my expertise comes in—I research properties, negotiate, and handle paperwork, ensuring a seamless transition from offer to closing.
First-Time Home Loans: Opportunities Await: As a first-time buyer, exclusive loan options are at your disposal. Don’t miss out on the chance to secure a below-market interest rate, leading to lower monthly payments. All government loan types such as USDA, FHA and VA loans are currently sitting at 5.625% and a Conventional loan is a 5.875%. “What is nice about it not being restricted to one program is that it means you can still fit it to any specific scenario. Whether you have a small down payment, a large one or need 100% financing there is options available to you with a below market rate” Matt Wilson. For more questions on these rates and loan approvals please reach out to one of my preferred lenders, Matt Wilson at matt.wilson@fleminggroupkc.com.
