With all the upheaval of the American economy and the housing markets during the past few years, it’s only natural that those who lost a home during that time would think twice about buying another one.
And actually, that’s not only a good thing when it comes to a major investment like a home – it’s a necessary thing. With homes – as with most things in life – there’s no easy “One Answer Fits All” solution. But there are some things that those who are on the fence and undecided should consider, and those include:
The Emotional Benefits of Owning a Home
There are few things more unsettling than living in a home at the whim of a landlord. The drawbacks include not knowing when/if they’ll want you to move, and if the rent will be increased (and if it is, can you afford it?). But there are other proven benefits to owning a home that many don’t think about, such as access to neighborhoods with better schools, better social and physical conditions, and single-family homes are generally maintained at a higher quality – which results in lower crime rates, too.
Owning a home is a huge accomplishment – one that still exemplifies the American Dream – and no matter what anyone may tell you, Americans do still dream of owning a home. It’s a place to call your own, that you can personalize to suit your needs and your tastes. It gives people more confidence in themselves and often spurs them to pursue even more life goals. Taking pride in not only acquiring a home but in making improvements to improve your lifestyle – that’s a really big deal. And if you’ve owned a home before, you remember that feeling.
When you own a home, there is a great sense of belonging to a community that comes along with it. You’re more connected with your neighborhood, your community, the people, and even your town. You’ve put down roots and in many cases make lifelong friends. And your kids will have the security of knowing that “home” means just that. It belongs to them, and they don’t have to worry about suddenly having to change schools and reestablish their friends and lives at the whim of a landlord. Studies also indicate better school performance and youth behaviors in children who live in a home of their own, in addition to developing greater self-esteem.
Definitely worth remembering is this: Historically, the primary path that Americans have used to create wealth has been through homeownership. Not through their jobs, not through stock market investments (and certainly not by buying lottery tickets!) – but by owning a home. Just think about it, because at it’s base, it makes perfect sense: Rather than contributing to a landlord’s net worth with a rent payment, your monthly mortgage payment continually contributes to YOURS.
There are many things to think about when planning to make the leap into homeownership. Fortunately, at Premier Mortgage Lending, our experienced loan officers know what those things are. We can help you consider all the factors involved, let you know the costs of obtaining financing, and help you determine if the time is right for you to make that move.
As a locally owned mortgage broker, It’s simply what we’ve been doing for our neighbors here in Las Vegas for years. We know the city. We know the neighborhoods. And we’re the home of the true traditional No-Fee Mortgage – which means our clients save thousands of dollars when they buy a home with a Premier Mortgage Lending loan.
Visit our website at www.PremierMortgageLending.com for more information. And to learn which are the most important questions to ask your mortgage lender, visit our www.KnowBeforeYouOweNevada.com website – where you’ll find quick informational videos that take the mystery out of getting the best mortgage loan for your needs.
Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.