The topic of buying or renting has long been debated; not just in Atlanta, but across the country. There are perks to both renting and buying in Atlanta, and it can be tough to decide which path you should take. However, buying a home in Atlanta is a great opportunity with many advantages. Whether you’re a first time home buyer or you’ve rented for a while and you’re ready to dip back into the Atlanta housing market, you’ll be well ahead for yourself if you choose to buy.
Reason to Buy #1: Security
This isn’t to say that your current Atlanta apartment is unsafe. The security context in this instance refers to you knowing that you are the owner, and you don’t have to worry about landlords selling your home out from under you. It’s unfortunate, but sometimes landlords can put your home up for sale while you’re living in it. Depending on the contract with the future owners and your lease, you may have to move out if the property sells.
Reason to Buy #2: Equity
Equity is a big advantage to those who own a home. When you pay rent, you are paying your landlord’s mortgage and probably putting money in his pocket. Make your hard-earned cash work with you instead of giving credit to someone else month after month. For every on-time payment you make on your house, you gain more equity. This means you have an investment in your home, and equity is a large and important asset to have.
Reason to Buy #3: Complete Creative Control
The freedom element may be one of the most rewarding features of homeownership. If you’re lucky, your landlord has good taste and keeps your apartment updated with trendy upgrades. If this isn’t the case, you might be stuck with 1970’s light fixtures and plain white walls. When you own your home, it’s all about your style and personal taste. How your home looks and is decorated is completely up to you, from the top of your roof down to the flowers in your garden.
Reason to Buy #4: Helps Build Good Credit
If you already qualified to buy a home, chances are that your credit is already somewhat established. However, making your payments on time every month will help you build excellent credit. If you decide to move and buy another house down the road, you’ll have a proven track record of always making your mortgage payments on time.
Owning a home does have its pitfalls; you have to pay for maintenance and it might cost a little more than renting. But the freedom and financial benefits absolutely outweigh the perks of renting. If you’re ready to move forward and own a home of your own in Atlanta, Atlanta Fine Homes Sotheby’s International Realty has a variety of homes to choose from. Start reaping the benefits of owning a home today, and contact us to get started on your journey to homeownership.