If you’re waffling between the ideas of renting again or buying a house, you can be sure that owning is overall the better choice. Aspiring to this goal is worthy of perseverance, and plenty of reasons and even research back it up. Undoubtedly, owning is better than renting for at least the following four reasons.
Renting is less expensive than owning a home. When purchasing a house, one pays a low, fixed mortgage rate that ends once it is paid off. With renting, however, a person must pay continually as long as they live there and the rent can fluctuate. Moreover, owning a property adds wealth to you in the long-term, as it increases your net worth and can appreciate over time.
Also, owning is better than renting for the stability it provides, which has deep and far-reaching consequences. These consequences are, of course, all highly beneficial. Homeowners tend to have less stress and better mental and physical health, knowing they cannot get evicted for late rent payment and have more control over their dwelling place. Some research even shows that owners are more likely to proactively fix issues like toxic mold growth than renters.
Kids also benefit from the stability of their parents’ homeownership. Children who move less often thrive better in school and experience less emotional distress. Renters are more likely to move tenancy more often, which deprives their kids of the unchanging, stable home they need.
Investment in Community
If you own a part of the community, you are more likely to take a greater part in it. Owners invested in their properties can have more motivation to care about the community in which it sits. They may be more likely to have neighborly relationships and care about the politics governing the community.
A fourth reason owning is better than renting is the opportunities it offers. You likely have ideas for what your dream home could be. You may have hobbies or passions that you wish to incorporate into your home lifestyle. Your sense of style could be one-of-a-kind. A custom home sounds fancy, but it is surprisingly affordable. If this is an option you might consider, Viking Custom Homes is at your service!
Let us be Your Trusted Maryland Home Builder
Are you ready to bring your dream home to life? Enlist the difference of Viking Custom Homes, Maryland’s trusted home builder of high-quality single-family homes for more than three decades. With over 30 years of experience and a reputation of excellence in over five Maryland counties, we offer the highest standard of customer service and quality assurance for your new home. If you are looking to build on one of our beautiful homesite offerings or on your own lot, we are eager to help you every step of the way towards building your dream home. Let us bring your dream to life by building a home where life unfolds! Contact us online or call today at 410-977-2188 to speak with a member of our trusted team. You can also visit our Facebook, Twitter, or LinkedIn for more information.