It’s no secret the U.S. has been going through a rental phase. It’s understandable; renting has its perks.
But at a certain point in your life renting can start to lose its glamor. And owning a home can seem like a bigger and better option.
It’s a big decision to purchase a home of your own. So before you get too intimidated, here are five signs it’s time to put your apartment lease away and put a down payment on a house.
- You haven’t moved in years. One of the benefits of renting is that you sign a 12-month lease. Once the lease is over, you can move to a new neighborhood, town, city, or even state. That said, one of the most common signs it’s time to consider some newly built homes is that you haven’t moved in a while. It may be a better financial option to buy a home in the area instead of renting a spot in it from month to month.
- Your kids are getting older. Kids like stability. This includes going to the same school and seeing their friends every day. That’s why families tend to live in the same apartment for years to keep their kids in the same school district. Once you’re not traveling from place to place it can be a better financial decision to buy a house. This way, you’re staying in the same area but you own property.
- You want more control over your surroundings. One of the cons of renting is that you can’t do much with what you have. Often, you’re unable to paint, drill holes, or update amenities. When you own your own home, you’re able to do what you want with your space. You can paint your front door, choose new flooring, and finally mount those shelves on the wall.
- You have enough for a down payment. The average borrower will put down 5% on their home purchase in the United States. You can find help to finance your home, but the down payment is all yours. So if you’re able to put a down payment on a house, it may be worth considering.
- You’ve found the perfect neighborhood. When you’re considering newly built homes, the house itself is just part of the buy. You’re also buying into the neighborhood. So once you’ve found the neighborhood of your dreams, it may be worth looking into the newly built homes in that area.
Camden Homes offers newly built homes with in-house financing to give you the tools you need to buy a home of your dreams. To learn more about new construction homes in Houston, Dallas, and Fort Worth, contact the new home builders of Camden Homes today.