Why You Should Buy Now! (The Top Real Estate Agency Los Angeles Can Help!)
Buying your first home can be intimidating. As the real estate agency Los Angeles counts on, we meet hundreds of people who feel that way.
It’s a major investment—the biggest investment many people will make in their lives. But as a Los Angeles resident, it could easily be the best financial decision you ever make.
Here are the 3 reasons you should buy your first home now, and set your financial growth in motion for the future.
Why You Should Buy Now!
#1. Home Ownership Gives You Independence
Independence is one of the greatest reasons to get starting on the road to home ownership. As a renter you have some conveniences but you are denied control and financial growth. Your rent pays the landlord’s mortgage and is used to improve the landlord’s assets and ultimately you are building the landlord’s financial future – that sucks!Â
However you decide to take control of your home, there are some ways that your home just gives you freedom. It can mean anything: installing energy saving electronics to reduce your energy bill, adding a fresh coat of paint to reinvigorate your home’s curb appeal, and getting a dog that you want.
- No more answering to a landlord or property manager
- No more watching your money go into someone else’s pocket
- No more waiting for the property owner to make those repairs that impact your enjoyment of the home
Essentially, you become the captain of your own destiny when you buy your own home.
#2. Home Ownership is Smarter Than Renting
Owning your own home allows you to steadily build your wealth. Buying a home is almost like a form of forced savings—where you are the beneficiary.
To start, the Federal Reserve puts out a lifetime financial achievement report each year. The most recent data shows that homeowners are worth 45 times more than renters. Of course, there can be situations where your investment isn’t so straightforward, but when you invest in your home wisely—and with assistance from a premium realtor—it’s actually pretty simple math.
If you buy a home today on a 25-year fixed rate mortgage with a 15% down payment, your down payment is still money building your equity in the home. As you make your monthly mortgage repayments, you continue to build equity. The money is literally going into your own pocket as you own more and more of your home—or owe less and less to the bank—with every month that goes by.
If you continued to live in that home for the next 25 years, eventually your mortgage would be repaid and you wouldn’t be paying to live in your home anymore. If you still live in the same rental property in 25 years, do you think your landlord will offer to live there rent-free?
Even if you elect to move from your home before the mortgage is paid off, you get to keep the appreciation, get your initial investment back and re-invest in something else – win -win-win. The key is timing and maintaining your initial investment and a great real estate professional can help you with all of these decisions.
#3. Home Ownership Supports Smart Moves
Your home improvements help your back pocket, too. Every cosmetic improvement, every energy saving appliance, every touch up is a potential investment in your future sale price.
Speaking of sale prices: when you sell your home, you are free to invest that equity in another property. By partnering with a real estate agency Los Angeles trusts, you can achieve a smart sale.
These are benefits that have been—and will continue to be—available to every homeowner. The real estate market is cyclical, and it pays to know the trends: sell in a sellers’ market, and buy in a buyers’ market. Right now, in many markets it’s a buyers’ market. This is your time.
Ready to explore your first home? Contact the real estate agency Los Angeles trusts and we’ll help you find it.
