Feeling Squeezed by Higher Rents? It Might Be Time To Consider Buying Your First Home In Chandler?
With the cost of rent going up across the board and becoming even less affordable in metropolitan centers, it’s never been a better time to seriously consider home ownership. Rents in Chandler upscale apartments have increased at a healthy clip. This also applies to the single family rentals in Chandler and Gilbert as well. The price of a home and all the associated costs can certainly seem like a tight squeeze after years of renting, here are some reasons you may want to consider giving up your rental and purchasing a home.
It’s An Automatic Savings
It’s a sure bet that the money you spend on rent is going down the drain as soon as the month is over, but investing your money into a home each month means that you’re actually putting it into something tangible that you can profit from later on. While there are no certainties that the price of your home will improve, there’s a good chance you’ll stand to make a bit of money in the end that will easily offset the cost of insurance and property taxes involved in buying a home. Your primary residence has never been considered an investment until the last decade in Arizona. Prices seem to increase at a steady rate despite the recession; home values in Phoenix continue to increase.
The Insecurity Of Apartment Living
With apartments being bought up all the time and torn down to make way for new developments, it’s always a possibility that the day may come when your home won’t be your home anymore. The good thing about using your purchasing power to invest in a home is that it gives you the freedom of feeling like you really have something that belongs to you, and you probably won’t have to worry as much about your loud next door neighbors or a landlord that never completes the required maintenance on your apartment.
You Can Consider A Roommate
An apartment often means a smaller amount of space, but it’s possible that a home purchase may provide you with a little bit of extra room and a place for a renter who can help with the monthly bills. Whether you decide on a friend, relative or someone you don’t know, this can be a great way to make home purchasing a little bit more economical and still provide you with the equity you’ll need to make it a worthwhile, long term investment.
With rent becoming less affordable in so many cities, the idea of purchasing a home is becoming a more tenable reality for many people. If you’re interested in what is out there and are curious about your own possibilities for home ownership, give me a call. I have years of experience in finance, mortgages and real estate. I would be happy to calculate for you the advantage or purchasing a home versus renting. I’ve been a Realtor in Chandler for over.