TIf you’ve been sitting on the fence regarding buying a home, speaking with a Burlington mortgage broker can help you take that leap into home ownership. You may have done all of your research, listed the pros and cons, calculated your costs and budget, and feel ready to go. You’ll be happy to know that you aren’t the only homebuyer to have gone through this stage, and a Burlington mortgage broker shared some reasons why its a good time to buy a home.
Buying a home is a big commitment and one of the largest financial decisions to make. It also has a lot of advantages.
Gives You Freedom
While renting may seem a good option, it doesn’t really allow you to enjoy the space you live in the way you want. When you own your own home you can redecorate and renovate to get the layout you want. From remodeling your kitchen and bathroom to creating a lovely landscaped garden, the decisions and choices are all yours.
Offers Stability
When renting or living with others, the situation can be uncertain. Will the landlord decide they want to sell, causing you to have to look for somewhere else to live? Will a housemate move and leave you stuck with paying more monthly bills?
With your own home, you have the stability of knowing you will have a roof over your head and be in the company of people that you choose to live with. If you choose a fixed-rate mortgage, you get the certainty of knowing your monthly payments and interest won’t rise. It also helps make you part of a community as you get to know your neighbours and take part in local community activities.
Builds Equity
From the moment you buy your home, equity starts to build. Over time, your home can build equity based on other factors and the housing market. Its equity that makes buying a home more beneficial than renting, because the money you pay each month isn’t being thrown away, rather you have something to show for it. Equity is also something that you can take advantage of through refinancing or if you choose to sell.
More Space
Compared to living in an apartment, living in a home gives you more space. More space means a more comfortable environment to live in. Having a home gives you the space for family gatherings and celebrations as well. It’s even better if your home has a yard for children or pets to roam, and adults to lounge in.
There are many advantages to buying a home and many options regarding a mortgage. Contact your Burlington mortgage broker today to see what options are available for you.