Three Advantages to Buying Your Own Home

By Jeff Cheney | On

Most people will agree that homeownership is the epitome of the American Dream. If you look back and think about what some of your major life goals have been, owning a home is likely on this list. Fortunately, now is one of the best times to turn this dream into a reality. With interest rates low and new home construction on the rise in Frisco and the surrounding areas, there really is no better time than the present to take the leap into homeownership. Beyond it being a buyer’s market and the excellent interest rates, there are several additional pros to buying a home right now. Before we dive into the advantages of buying a home, it is important to drive one point home: education and knowledge are key. What we mean by this is that the more you know about why you should buy a home and the market in your area, the less scary the entire process will appear to you. By speaking with a Frisco real estate agent and making sure you understand everything that goes along with purchasing a home, you will be setting yourself up for success. Here at The Cheney Group, we have worked hard to create a team of Realtors who not only understand the various North Texas communities, but that have the experience necessary to ensure you end up with the home of your dreams.

Here are just a few of the main reasons why you should consider buying a home and using a Realtor from The Cheney Group today:

  • Financial Benefits – While it is true that homeowners will likely have a lot of expenses to deal with – especially in the beginning – it is important to remember that your mortgage and other monthly costs are building up equity over time. Buying a home really is a lifetime investment and many people view homeownership as a hedge against inflation. Furthermore, there are numerous tax advantages to buying a home. You will be able to deduct the real estate property tax, some or all of the interest on the mortgage, and the cost of insurance for the property. If you work from home or have a home office, you may be able to make some additional deductions.
  • Pride of Ownership – Yet another great benefit to buying your own home is the pride you will feel. Purchasing your own home means you can paint the walls any color you desire, landscape the backyard however you want, and implement any other design features you fancy. The fact is, you will have a lot more autonomy as a homeowner to make decisions about what your home will be like. While you will have to respect the homeowner’s association rules (if applicable) and be respectful of your neighbors and community, you will still have a lot of flexibility that you won’t get as a renter.
  • Stability – As long as you have a fixed rate mortgage, you will have the same payment month after month, year after year. This creates a sense of stability and allows you, the homeowner, to make future plans and layout a long-term budget. As long as you have an income, you will be able to count on staying in the house that you own for many years to come. If you are renting, you will not be able to predict whether or not you will be able to afford the space you are living in next year. So, by owning a home, you will be able to rest easy that your payment is not going to change, regardless of how much the cost of living goes up.
    There truly is no better feeling than owning your home. It is a sign that you have worked hard to get where you are and that you are at a place in your life where you are financially secure and ready for the next chapter in adulthood. To find out more about how The Cheney Group can help you find the right home for you and your family, give us a call today.