Many people are often intimidated when it comes to buying a new home. However, the reality is it can often be less expensive on a monthly basis and a better long term investment in the long run. Most homeowners agree that their investment in their home is one of the best investments they have made! See why you should ditch your rental and upgrade to a new Regency home!
When paying your rent for the month, you can be giving as much as 40% of your income to your landlord. Also, paying rent does not add to your wealth. When paying your monthly mortgage, you are appreciating value by increasing wealth, building your home equity, and getting a tax deduction on your mortgage!
Variable vs. Fixed
Rent can be increased at the end of your lease, leaving you with a higher rent or needing to find a new place to live that fits your budget. When owning a home, your monthly payments will stay the same throughout your loan.
Renters are typically not allowed to do any renovations to their home, and there is no personal style put into the selections of your home. With your new Regency home, you will be able to pick the floor plan that fits you and your family perfectly, along with your cabinets, paint color, hardwood floors, and every other detail you can imagine at your Design Center appointment. The possibilities are endless with Regency!
Owning a home means you don’t have to abide by a landlord’s rules. There are no restrictions on pets, noise, or remodeling, and you also have a backyard with the option of a fence. Homeownership gives you a sense of place and belonging, because you feel more invested in your community!
The Bottom Line
Every time you pay your rent, you get to live on someone else’s property for another month. Every time you make a mortgage payment, you own a little bit more of your home and are building your own equity as opposed to your landlord’s.