Are you considering renting in Northern Virginia? With remarkably low interest rates, perhaps you should consider buying? Here are 5 solid reasons that buying is better than renting.
- Be your own landlord. The landlord picks the paint colors. The landlord decides whether pets or smoking is allowed. If you are the landlord, you make the decisions. And you decide whether to extend your lease or not.
- Paying the principal is forced savings. Everyone knows that paying off a mortgage is better than paying rent forever.
- Fixed-rate mortgages never rise – and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.
- Good schools. Family-sized rentals are harder to come by in areas with excellent public schools.
- Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned – not rented.
Are you ready to buy a home?
All across {Location_Name}, people are looking to a buy home - either now or in the future. Over the last few years, lower interest rates have come along, making it more affordable than ever to buy a home. In order to buy a house, you’ll need to start saving your money and have enough for the closing costs and a down payment. Check out our
Closing Cost Estimator and talk to an agent to get an idea of what you need to have on hand to make your home purchase.
In most cases, the closing costs will run you around 5% of the property price. Before you purchase the home, you should always get an estimate. An estimate won’t be the exact price, although it will be really close. You should always plan to save up a bit more money than you need, just to be on the safe side. It’s always best to have more than enough than not enough.
You’ll know your ready to buy a home when you know exactly how much you can afford, and you’re willing to stick with your plan. When you buy a home and get your monthly mortgage payment, it shouldn’t be any more than 25% of your total monthly income. Although there are lenders out there who will say that you can afford to pay more, you should never let them talk you into doing so - but stick to your budget instead. Connect with Nesbitt Realty to learn more about your selections in {Location_Name}.
Read more about buying now
For more information or to set up an appointment call Stuart at
(703)765-0300.
