Friday, 27 March 2015

Maple Way - 5 Benefits Of Buying Vs. Renting A Home

Spring has arrived and the buzz of new showhome openings is in the air. Now, many people are thinking about a new place to live. Maybe your lifestyle has changed or your family has expanded or you want to take advantage of lower mortgage rates and great opportunities in the market.

Whatever the case many be, a question that is likely to come up when you are looking for a new place to live, is whether you should buy or rent. Here are 5 benefits of buying a home of your own instead of renting, according to James Harrison - Mortgage Specialists.

1. Building Equity

The thing about renting is, in many cases you’re paying off someone else’s mortgage. Basically, you’re helping to create equity for someone else, instead of yourself. You have to live somewhere and, in most cases, you have to pay to live there. Why not pay to live somewhere that is creating a valuable asset for you yourself? 

2. Your Inner Designer

If you are a renter, you know how difficult it can be to make even minor changes to the style of your rental property. And if you are able to paint, switch light fixtures, etc; you usually have to change everything back before you move out. When you buy a home, you can unleash your inner designer and change whatever you want when you want to - no hassles.

3. Family Stability

When you buy a home and make it uniquely your own, you are setting the stage for decades of important memories that belong to you - your family get-togethers, your kids growing up and the life moments that really matter. The sense of stability that comes with owning a home is immeasurable and you will have a source of financial security later in life when the mortgage is gone and you have a valuable asset.

4. Payment Stability

Most lease agreements last for one to two years. When it’s time to renew, rent can increase. Many landlords increase the rent as much as the law allows. And while mortgage rates aren’t always rock steady, you can opt for 5-year fixed terms where you’ll know exactly how much you have to pay for that period of time, making it a more stable option.

5. Sense of Community

When you buy a home instead of renting, there is often a higher likelihood that you’ll take an active interest in the community. This includes getting to know your neighbours on a deeper level. That’s not to say that renters don’t participate but when you own your home, it can feel like the community belongs to you and your fellow homeowners. And everyone takes community pride to another level.

To find out more about Maple Way Gardens Townhomes Visit:

ADDRESS: 2922 Maple Way Edmonton, AB, T6T 1J2
PHONE: 780-995-1643

Monday - Thursday: 4 pm - 7 pm 
Saturday & Statutory Holidays: 12 pm - 5 pm 
Sunday: 12 pm - 4 pm 
Friday: Closed

Credits To James Harrison Mortgage Specialists

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