One of the biggest dilemmas faced by a lot of people today is whether to buy a home or rent it. For many buying a new home means tying up a huge sum of money as a down payment. It also means a responsibility to pay a mortgage that many are afraid to take on; yet, they do not find it onerous to pay thousands of dollars in rent every month.
However, more renters are now seriously considering purchasing a home – and our advice is, “do not wait”. The Tampa real estate market has seen some major changes over the past few years, with home prices and interest rates at an all time low, making this the best time to buy a home.
When you rent a home, you never know when the owner will decide to increase the rent or give you notice to leave; all of which will leave you in a quandary and create uncertainty for your future. So, instead of living month to month on the whim of another person, take advantage of these lower home prices and interest rates and place the same money currently spent on rent, and invest it in owning your own home.
Owning a home allows you to enhance the value of the property by adding extra amenities. By doing so, should you see the property in the future, you will be in a position to ask for a higher price and earn a lucrative profit from the sale. Apart from the security owning a home provides, buying a home also means you know the exact amount of your mortgage payment every month so that you're prepared for it without any sudden surprise of rent increases being sprung on you.