Recognizing the Advantages of Owning Your Home

Considering a home purchase for the first time? Recognizing the advantages of owning your home and understanding the reasons others have taken this step can be enlightening. A PulteGroup survey of first-time homebuyers revealed:

“When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.”

Owning a Home Offers Greater Stability than Renting

The escalating rent might motivate you to seek stability. As a tenant, there’s always the looming possibility of a rent hike with each lease renewal. Conversely, a fixed-rate mortgage ensures consistent monthly payments throughout the loan term, offering a security that renting lacks. As real estate journalist Jeff Ostrowski puts it:

“With a fixed-rate mortgage, your monthly principal and interest payment is set for as long as you keep the loan. Sign a rental lease, however, and you could see your rent rise the following year, the year after that and so on.”

Home Ownership Enhances Your Wealth with Rising Property Values

Moreover, a home is a valuable long-term asset. While renting might seem economical now, it doesn’t contribute to your long-term financial growth. First American’s Chief Economist, Mark Fleming, highlights this:

“Given current dynamics, more young households may choose to rent in the near term as the cost to own, excluding house price appreciation, has unequivocally increased. Yet, accounting for house price appreciation in that cost of homeownership, whether to rent or buy will depend on where, and if, a home is likely to cost more or less in the near future.”

In essence, renting doesn’t contribute to equity. Owning a home, on the other hand, boosts your net worth as the property’s value rises, an advantage absent in renting. Considering this, purchasing might be the more financially sound choice. Experts anticipate a steady appreciation in home prices in the coming years. Thus, buying a home is not just about securing a living space but also fortifying your financial prospects.

Bottom Line

Recognizing the advantages of owning your home is an important first step in the home buying process. When you’re ready, transitioning from renting to owning can be an important and strategic decision. Reach out to Countryside Homes NJ and RE/MAX Select, and let’s explore how you can stabilize your housing expenses and pave the way for a prosperous future.

Client Testimonials for Countryside Homes NJ

At Countryside Homes NJ and RE/MAX Select, we pride ourselves on delivering exceptional service to our clients. But don’t just take our word for it—read what our satisfied customers have to say. From first-time homebuyers to seasoned real estate investors and new home builders, our clients appreciate our dedication, expertise, and commitment to their success. Here are some of their stories.

David R. New Homeowner

Collaborating with Keith LaBrunda and Heather Montalbano from Countryside Homes NJ and RE/MAX Select streamlined the home-buying process for me. They were attentive to my needs and preferences, ensuring they understood exactly what I was seeking in a home and what was within my financial comfort zone. Keith and Heather provided invaluable assistance during the offer stage, sharing insightful details that enabled me to place a successful bid on my desired property. They recommended associates to assist me with securing a mortgage, conducting home inspections, and acquiring homeowner's insurance. Post-purchase, they continued to be a resource, suggesting local companies to contact for internet, water, waste management, oil, and other essential services. The experience of purchasing a home with Keith LaBrunda and Heather Montalbano was seamless and enjoyable.

Rachel and Andre First Time Homebuyer

As first-time homebuyers, the process of finding and purchasing a home felt daunting. But from the moment we reached out to Heather and Keith at Countryside Homes NJ and RE/MAX Select, our worries were put to rest. Their team was incredibly patient, answering all our questions and guiding us through every step. They took the time to understand our needs and preferences, ensuring that we found the perfect home in a neighborhood we love. We were especially impressed by their vast knowledge of the local market and their commitment to ensuring we got the best deal possible. We can't thank them enough for making our dream of homeownership a reality. If you're in the market for a new home, we highly recommend Heather and Keith at Countryside Homes NJ and RE/MAX Select. They truly go above and beyond for their clients!

Prestia Family New Homeowners

From the moment we began our home search, Heather at Countryside Homes NJ and RE/MAX Select stood out as the epitome of professionalism and dedication. Her team's in-depth knowledge of the Rockaway Borough area and their unwavering commitment to our needs made our home buying journey not only smooth but truly enjoyable. As new homeowners in Rockaway Borough, NJ, we can confidently say that choosing Heather at Countryside Homes NJ and RE/MAX Select was the best decision we made. Her expertise, patience, and genuine care for our family's needs transformed what could have been a stressful process into a memorable and joyous occasion. We are beyond grateful for her support and would highly recommend her and her team to anyone looking to find their dream home. Thank you for turning our dreams into reality!