First time homebuyers and Denver, Colorado area apartment residents may wonder whether homeownership really is advantageous over apartment residency. Knowing that homeownership has extra built-in costs such as closing costs, taxes, home inspection and appraisal costs, – is it possible to achieve a return on the investment with costs like these? We suggest the following as benefits to owning your own home, as vs. apartment rental:
Equity Built Over Time.
Homeownership is about building equity over time. An excellent Realty Times article says, “Historically, homes appreciate by about 4 to 6 percent a year. Some areas are still experiencing normal appreciation rates. For the areas that have seen harder times since the recession, experts feel that the housing market will recover.”
Stable Monthly Expenses Over Time.
Particularly with a fixed rate mortgage, your expenses will be stable over time, allowing you to budget and make solid financial plans. An informative Deadline News.com article is reporting that 30-year fixed-rate mortgage rates have gone below 4% again.
The Comfort of Owning Your Home.
Since the home is yours, you can do anything you want with it – paint it your favorite color, add outdoor landscaping and other outdoor features, make a little more noise… you get the picture!
If you live in the Denver area and have an interest in learning more about the details of home ownership, contact the real estate professionals at Preferred Properties.
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