Are You Ready To Stop Renting? Are You Ready To Stop Renting?

Are You Ready To Stop Renting?

Monday, January 13, 2020

We’ve all had experiences with modern advertising, by this point. Follow a link to a car dealership's website, and you'll find ads for pre-owned Cadillacs and Kias in your mailbox for weeks. Mention to a friend that you want to take a trip, and your phone could literally hear you and gear all of your ads toward timeshares and other vacation packages.

Sometimes, this is pretty annoying. Other times, you'll start to wonder if you don't sort of need exactly what you're being sold. After all, would they try to sell you so hard if you hadn't gone looking that first time? Or mentioned it to your coworker?

Buying a home is a prime example. And there are a lot of great reasons to own instead of rent, right now. So join us today, as we take a closer look at five signs you're clearly ready to stop renting and become a homeowner.

Five Signs You Are Ready To Stop Renting

  1. You Just Want To Own. Period.

    If you’re ready for the responsibility of homeownership, that might be all the sign you need. After all, if you don’t have a green thumb, you don’t have to go out and work 10 acres of land. Anybody can maintain a moderately sized home, provided they actually want to.

    With so many options out there to match your lifestyle, and some of the best real estate agencies to date willing to help you find your perfect match, now is a great time to be a homeowner.

  2. You Have The Down Payment Saved Up For.

    You’ve been counting your pennies and foregoing your craft coffees for the last six years, all in preparation for this moment. Typically, 20% down is needed for better rates and more favorable terms, but you’ll know all about that because, like we said, you’ve been saving.

    If you’re ready to pay the mortgage, outright, you’ll also be able to avoid private mortgage insurance, which accounts for 1% of the purchase price and is paid annually.

  3. You’ve Accounted For All The Extra Fees.

    You’ve done your research and are up to date on the additional costs it takes to own a home. Your mortgage will be the highest cost, but expect to pay taxes, insurance, maintenance and, sometimes, association fees, as well.

  4. You’ve Checked Out Your Neighborhood.

    It is always useful when potential homeowners narrow down their search to a specific area. It’s important to drive through at different times of the day and on different days, just to scope out if that lifestyle matches yours. It’s a decision that may just keep you there for years to come, so it needs to be done right.

  5. Owning Is Cheaper Than Renting.

    Rental rates are skyrocketing in neighborhoods around the country, and owning can actually be less expensive in many examples. Do your research, find out what your options are, and be honest with your needs. You may actually find this works better than any other option, by far.

Next Step, Contact A Real Estate Agent

Considering purchasing in Miami, in 2020? Contact a company that knows Miami like the back of its hand. Luxury Living Listings is here to help you, to answer any questions you may have about the buying or selling process.

 
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