Are you tired of renting but nervous about making the decision to purchase a home? If so, you are not alone. Throughout my experience as an Edmonton mortgage broker, I have encountered many people who were fed up with their current situation of going from landlord to landlord, but were afraid of making the large financial decision of purchasing their own home.
I have found that, in most cases, this is because those people were unaware of the benefits that would come with purchasing their own home.
Did you know that there can be financial benefits to purchasing a home?
While you are renting a home from someone else, you are essentially helping them pay off their mortgage on the home you are living in. Why not do the same thing on a property you have invested in?
You will be building up equity as you continue to make payments on your mortgage, which can be viewed as a sort of mandatory savings.
One of the top financial reasons to purchase your own home is that, with a fixed-rate mortgage, your monthly payments will never change during the term!
When you are paying rent, your landlord can increase the amount you are paying on a yearly basis. Compare this with several years of cost certainty with your monthly mortgage payment will remaining consistent.
Did you know that there are just as many personal reasons for purchasing a home?
There is a certain pride that comes with the purchase of your own home that cannot be experienced as a renter.
The best part is that, once you own your home, you are free to do what you wish with your property! You can re-paint or re-model anything you want to and you don’t have to get clearance from someone else to do it.
Owning your own home will also give you and your family a sense of stability as you build your life in one place instead of moving around.
If you are interested in finding a home to purchase and start creating memories in right away, we are here to help!
Give us a call at (780) 721-4879 to get started with your pre-approval today!