There has been some hesitation toward buying a home throughout the country since the recession hit in 2008. This is understandable, since many homeowners at the time were unable to pay their mortgages and were often forced into foreclosure due to the crashing market. Luckily, time has passed and the real estate markets are quickly improving, especially in the Triangle area!
It may seem like a safer option to rent rather than buy a home. However, there are many benefits to buying a home that potential buyers should consider.
Our real estate experts at Raleigh Cary Realty are happy to share three reasons to buy a home rather than continuing renting are:
- Fixed Mortgage Rates. One of the best benefits of owning a home is having a fixed mortgage rate. Many renters share the common complaint of unexpected rent increases, or they’re forced to pay for services they don’t use, like valet trash. Even as inflation rises, a fixed mortgage will remain the same!
- No More Landlords. This is also a big plus for homeowners. No more landlords hovering around the property, or taking their sweet time to address maintenance requests. New homeowners may be intimidated by taking care of the property themselves at first, but after time they’ll relish the ability to have complete control.
- Take Advantage of Low Interest Rates. First, find a trustworthy agent or broker to stay informed on the fluctuating market prices. They have excellent insight into the current trends and can provide sage advice for future projections. Often there are specific times during the year where interest rates are at a low -this is awesome for new buyers looking to save money on their first home purchase.
Raleigh Cary Realty is the perfect match for the first-time home buyer in the Triangle. Our team of real estate professionals can help buyers make the transition from renting to home ownership. Contact us today to see how we can help during the process!