I was going to write a blog on 0% mortgages.
But there was no interest…
(Sorry.)
But I do get this question a bunch. Why not rent?
Why put a bunch of money down if you don’t have to?
Why do your own repairs?
There’s a few simple, solid reasons that buying is often better.
Freedom!
Do whatever you want with the place! You are the queen and/or king of your castle!
Gnome-themed landscaping?
Do it.
Purple walls!
Slap it on!
Shag wall-to-wall carpeting?
Your toes will be in heaven.
Cat wallpaper as far as the eye can see?
You do you.
Stable Payments.
A fixed-rate mortgage is exactly that. Fixed. Un-budge-able.
You know exactly what you’ll be paying in 4 years.
Which brings me to…
Payments that END!
They actually do! Get a ten year mortgage and you’ll likely be wearing the same SHIRT the day you buy it as the day you make your last payment.
KEEP OUT!
Privacy is bigger for some than others. But I, for one, like knowing that no landlord is holding a key to my home and can pop over when I’m having a boozy bongos and bingo night.
(I don’t have those, but now I’m wondering why not..?)
Cha-Ching!
Owning is (often) more affordable than renting.
So many are surprised by this one. But it’s true!
The Jones-es.
Jones’?
Jone-zes.
Anyway, keeping up with them isn’t the thing, it’s having a community, neighbors you grow with…renting just doesn’t have that vibe.
And of course there’s the boring, but very real stuff like tax breaks ($ in your pocket), the legacy of leaving something of growing value to your family, the security of never wondering if your landlord will sell and you’ll be sent packing…
But no matter how you spin it, there are big, strong, valid reasons to dump that lease and look into owning your own home.
Because “Gnome is where the heart is.”
Or is it, “Home is where the gnome is”?
