Hmmm….House? Apartment? Buy? Rent? If you’re debating about what you should do, you should consider the many reasons you should buy a home in 2017. Some of these reasons are probably common knowledge, but the other reasons could surprise you. Here are only some of the benefits of owning a house as opposed to renting.
8 Reasons you Should Buy a Home in 2017
1. You want to know where you will be next month.
Let’s say you live in a rental and have a lease that expires in one year. Well, you’re content there for the moment, so you’ll probably renew the lease. But really, really … is it your home? Are you comfortable with the idea of staying there indefinitely? Or is relocating constantly nagging you at the back of your mind? Chances are, you’re not quite as comfortable as you thought because you probably do wonder every now and then if you’re in the right place.
2. It’s roomier.
When you first moved into your own place, it was probably fine for a little while. But have you ever noticed that the longer you live (or work) in one place, the more “stuff” you collect? All of a sudden, your bedrooms and closets started shrinking; it wasn’t a sign that you were getting taller. It means you need to move on.
3. You have great options.
The Denver, Colorado, area housing market has been hot for many months, so you have many options. If you are a first-time homebuyer or a veteran, you may be able to receive special incentives as well.
4. Your family is growing before your very eyes.
Aw, you just had a baby girl! That’s great, but you need somewhere for her to sleep. That crib that you squeezed into the room at the foot of your bed just isn’t doing it anymore, and you never dreamed that a little baby’s clothing could become larger than life. Having growing children in the home is perhaps one of the best reasons you should buy a home in 2017.
5. You want a pet – or two or three.
While some rentals allow pets, others do not. You also do not want to have to deal with the restrictions, deposits and additional rent to own pets.
6. You get tax benefits.
As stated on “Realtor Mag,” the official magazine of the National Association of Realtors, the U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes and some of the costs involved in buying a home.
7. Your rent payments mean something.
If you live in a rented apartment or house, you might feel like your money is going down the drain. In some ways, it is. Instead, one of the reasons you should buy a home is that the mortgage payments allow you to build equity in your home. In other words, you’re paying off your own home, rather than giving the money to the owner – only to never see it again.
8. You can have all you’ve dreamed about in a home.
Do you want to sunbathe in your own backyard? Do you want to play fetch with the dog? Do you want to grow tomatoes in the garden? Do you want to tear down a wall for that newborn baby girl’s nursery? Do you need a basement for your crafting hobby? Do you need a garage to rebuild that classic car? … We can go on and on, but you get the idea: You want to be able to make the house your home. In a rental, it just won’t happen.
Contact Us for Specific Answers
Of course, everyone’s circumstances and financial situation is different. If you want answers specific to you and want to know more about the reasons you should buy a home in 2017, contact us through the Wilcock Team of NOVA Home Loans website or by phone at 720-593-6682. We will be happy to tell you more about the options that are available to you.