To say that this summer flew by is certainly an understatement. With September here and Halloween candy lining the shelves, fall is upon us. As the summer hustle and bustle begins to wind down and our schedules become a bit more regimented, many people begin setting their sights on the year ahead. More often than not, change happens during this seasonal transition — whether its a change in career, or in our case, a change in living situation. For some, the goal is to be settled in a new home in time for the holiday season.
The big debate when deciding to move is whether to rent or purchase a home. We’ve gathered a few reasons why owning trumps renting and why it’s important to do your research!
Fixed Monthly Payments
When you own your home, your monthly payments will not increase year after year. When deciding on a mortgage provider and researching the best interest rate on the market, you decide right from the get go what monthly payment you feel comfortable making. In essence, you are setting your price point and more importantly your monthly installment. On the other hand, when leasing a property, rental rates can and do continually rise. Year after year, landlords have the ability to raise rates due to many reasons. It is always important to take note of the initial contract signed before entering a rental agreement. Frequently, it states in black and white the percentage or amount of increase each year. Instead of throwing money away into renting a property, now is the time to take your hard earned money and spend it on a home of your own!
Most Included Features & Design
A great perk to buying a home over renting is the look and feel of the property. Many rental properties are older with a lack of updated finishes and design elements. Standard options in our new construction homes feature stainless steel appliances and granite countertops, just to name a few. Also, with the option to choose energy saving appliances such as the HVAC system and electrical system, not only will you be saving money on your monthly utility bills, but you will helping the environment too! Rental properties tend to have older systems, which cost a lot of money to maintain and generate high monthly bills. Why not cut costs all around?
And then there’s the design; designing your dream home is the American dream. Being able to pick out flooring, fixtures, layout, etc. is exciting and rewarding all at the same time. We are the CUSTOM-i-ZABLE home builder in the Lehigh Valley. This is what we do! Having the ability to make choices to fit your lifestyle and design tastes is important.
One easy fix to any space is paint! Painting and decorating your home is a huge reason why buying is better! In my experience, painting a rental property is more of a hassle than not. If painting is allowed, typically you need to get approval of the color and you are forced to paint it back to the original color at the end of the term. Therefore, you are spending double the amount of money on paint and supplies! Making these aesthetic improvements can be quite a pain, so you are left with bland walls for the length of your lease.
Low Down Payment
There are many programs out in the market today that allow for a low or no down payment. Examples like FHA, VA and USDA financing give you a variety of options while still providing excellent rates. Now is the perfect time to consider buying because of these great offers. Our preferred lender, The Mortgage Company, can match a program to meet you specific needs! With up-to-date information, you can be designing your dream home in no time! Now is the time to see what program you are eligible for and to solidify your future plans; let’s get moving!
While these are just a few of the reasons why owning rules over renting, there are many more! It is important to do your research. Everyone has different wants and desires, but when it comes down to it, spending your money wisely is crucial!
To learn more about Kay Builders and our CUSTOM-i-ZABLE options, find us on the web at www.KayBuilders.com.
Kay Builders has served the Lehigh County continuously for over 50 years, longer than any other homebuilding company. We have also constructed more homes in Lehigh County than other homebuilding companies, having served over 3,500 satisfied customers.