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Why You Should Stop Renting and Own a Home Instead

Couple standing in front of their new home

Thinking of buying your first home? Here’s why you should go for it.

  1. It will appreciate in value

    Residential properties often increase in value, especially when the surrounding area experiences growth and development. You can also build equity on your home faster by taking out short-term loans or paying extra to speed up the amortization period.

    Equity pertains to the difference between the property’s value and the amount you owe. It can help you build up a nest egg for the future, and perhaps even provide cash that you can put down for your next home.

  2. You can do anything you want

    Renting a home often comes with restrictions – you might not be allowed to bring pets or do some remodeling. Being a homeowner gives you the kind of freedom and privacy that eludes renters.

    You’ll be free to make cosmetic improvements as you wish. Paint the walls any color you like. And if you’ve always wanted to adopt a pet, you’ll finally have the space you need.

    You’ll still be bound to HOA restrictions and local zoning laws, but you can execute large-scale remodeling projects as long as you have the right permits.

  3. Mortgage costs stay fixed

    If you took out a fixed rate mortgage (FRM) on your home, then you can expect your monthly payments to stay the same throughout the life cycle of the loan. This brings more stability to your finances, as it enables you to follow a set budget each month.

    Renting, on the other hand, is more unpredictable since there is no rent control in Florida. That means landlords can increase rental fees as they see fit.

  4. You can live rent-free after a set number of years

    The amortization period usually lasts 15 to 30 years, after which you can stop making payments. You can speed things up by making bigger and more frequent payments.

    That means that you’ll be able to live in your home, cost-free, once the loan has been paid off. This gives you more financial freedom, enabling you to channel your sources into other things like traveling and personal hobbies.

  5. You’ll have closer ties to your community

    Owning a home allows you to build stronger and closer ties to the community. You’ll feel as though you have a stake in the neighborhood because you are a homeowner. This will motivate you to be more involved in any developments that are taking place within the community.

    Staying put also allows you and your family to build long-lasting relationships with other residents.

  6. You can sell your home later on

    You can sell your home at a profit when market conditions are right. This is a viable option if you want to downsize or trade up to a larger home. The home’s market value may even go up if you’ve done proper maintenance and upgrades.

All you’ll need is the assistance of a Realtor who can promote your listing and help you attract qualified buyers. Call Francine Kidder at 772 925 9587 or send an email to to get started.