Your Home Inspection Service in Michigan and Owning a Home

Owning a home is really the American dream. And there are many benefits of owning a home. Home is where the heart is and it is also where a huge chunk of financial responsibilities lie. Which is one reason why many people choose to hold off on buying a home.

There is no doubt that becoming a homeowner is one of the biggest financial decisions you will make in your lifetime. But if you are willing to take that risk, it could be the best decision you make. Total House Inspection, your home inspection service in Michigan, offers the benefits of homeownership.

Savings Plan

When you make mortgage p[aymentys every month, you are basically in a savings plan. With each payment, you are gaining equity in your home. When you decide to sell, you can use the money you make to put down on a bigger, nicer house.

Secure Retirement

A home can be the ultimate nest egg, which can provide you with an investment for retirement. Should you live in your home for 30 years, it could appreciate in value 100% or even more. When you get older, you can then buy a smaller house to live in and rent out your current house.

Just think of what you can do with that added incólume upon retirement.

Increased Privacy

While you might have a nice apartment, you still only have a wall as a barrier between neighbors. When you own a home, you have a greater distance from your neighbors and added privacy.

Less Expensive

There is an upfront cost of buying a home. But in the long run, it will be less expensive than renting. Mortgage rates are low right now, making it an economically wise choice to purchase a house sooner than later.

Do What You Want

When you rent, it is the landlord that makes the decisions when it comes to what can be done to the property. You might want to paint rooms a certain color, but the landlord might have other ideas.

When you own a home, you are the one who gets to make all of the decorative decisions. If you want a bedroom painted blue, then you paint it blue. If you want to replace the kitchen cabinets, it’s up to you. There is no landlord to turn you down.

Predictable Payments

When renting, the landlord can jack up the rent whenever they feel necessary. Also, you can expect the rent to go up over the years. But as a homeowner, you can lock into an interest rate and make the same payments foie the next 30 years.

Roots in the Community

Buying a home is a big step in settling down and spreading roots in a community. Not only will you gain a sense of stability when you settle into your home, but you also contribute to neighborhood stability.

Research shows that homeowners are more invested in their properties and neighborhoods, which leads to a close-knit community.

As you can see, owning a home comes with many benefits. If you are buying a home, call Total House Inspection for professional home inspection services.