Renting is convenient – until your circumstances change. While there are advantages to renting, a home almost always seems to be the better long-term financial choice for most people. The extra space and potentially better neighborhood that come along with buying a home are important factors to keep in mind.
Here are five signs that indicate that it is time to stop renting.
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- The desire to customize
Anyone who has rented before knows the convenience of calling the super and having them contact someone fix a broken appliance or look into the leaks in your bathroom. However, the restrictive nature of apartments can be frustrating for individuals who wish to customize their space. If you find yourself itching to add something to the kitchen or remodel the bathroom, you may want to look into purchasing a home. - The need for a specific location
Location is every real estate professional’s mantra – as it should be to you, too. If you have kids, you’ll want a place where the best schools are nearby. Unfortunately, these areas may not have available rental properties. When the desired school district is surrounded by homes for sale, it may be time to think longer term, especially if the kids are just starting school. Perhaps the neighborhood offers the peace and quiet you need after a long day’s work. Or it’s nearer the amenities that are important to you – the reasons for moving into a home of your own are plenty. - A “can’t pass up” offer
The real estate market can be a rollercoaster ride, with highs giving way to lows and back again. People who have been looking at properties for a while and who find themselves in front of the house of their dreams at the price of their dreams should not hesitate. The opportunity to rent will always be there, but the perfect home might not be. - The money is right
If you’ve been thinking of purchasing a home, chances are you’ve been building a nest egg. If a person has the down payment ready for a home they wish to obtain, it only makes sense that they go ahead and go through with it. Closing on a property at the right time is incredibly important because the opportunity might not present itself again. Compromise is essential, too, as most Realtors are quick to remind clients that a home that ticks every single box, including price and location, might not exist. - The family is expanding
If there’s a surefire sign that you need to move out of a rental and buy your own home, this is it. Having a child, adopting one, or getting your ageing parents to move in with you requires the space and privacy you won’t find in an apartment. Real estate agents will advise prospective homeowners on the home-buying process, as well as the kind of home suitable for kids, the elderly, or both. The last thing anyone wants is a rush move that ends up putting stress on the family.
- The desire to customize
Whatever the reason, purchasing a home is often a great idea. To have the kind of space that fits your lifestyle and do as you see fit are things renting simply cannot beat. If the time has come to move, everything must be carefully planned out for a smooth transition.
Want to know more about life in Bridgewater, NJ and your real estate options in the area? Let Pagnotta Homes assist you—give Cindy a call at 908.436.7947 or send an email to info(at)pagnottahomes(dotted)com.
