6 Reasons to Love Home Ownership
Apartment rents are on the rise in Texas’ largest metro areas making homeownership an even more attractive option than before.
In February, Apartmentlist.com reported that rental rates were up 1.7 percent in Houston, 2.4 percent in Dallas and a staggering 3.3 percent in Austin over the previous year. At the same time, mortgage rates have fallen and mortgage agency Freddie Mac predicts that rates will remain steady at 3.6 percent throughout 2020.
With many Johnson Development communities throughout the largest metro areas offering homes base-priced well below $250,000 buying your home makes more sense than renting it.
Here are six more reasons why you’ll love owning your home:
It’s Your Home, You Can Paint If You Want To
As a renter, you aren’t free to make many decorating choices beyond furniture. Own your home and the sky is the limit. Paint your dining room purple, knock out a (non-load bearing) wall to add a guest room or install built-in bookshelves. No asking permission first.
Build That Equity
Okay, so it’s not sexy, but home equity is probably the number one reason you’ll love owning. Home equity is the difference between the market value of your home and the amount that you still owe. If your home appreciates in value, you’ll have quite the nest egg. So instead of paying your landlord, you pay into something you own that can become more valuable over time.
You’ll Put Down Roots
Homeownership provides stability allowing you to make friends and get involved in the community. This is especially beneficial for families with children, who typically thrive in stable environments. One reason is children can maintain friendships when families don’t move as much.
You Can Have Pets
Sure, you can have pets in a rental home or apartment — as long as you pay a $200 per year pet deposit. And how happy are those pets? A big dog in a tiny apartment would probably prefer a big backyard. Many Johnson communities even have dog parks where Fido can really stretch his legs.
Enjoy a Healthier Environment
Leaky roofs, mold and safety hazards can escape the notice of landlords. That can impact your health and the well-being of your family. Homeowners have more control over their living space and can fix problems as they occur. Plus, new-home construction building standards continue to evolve with a focus on the healthy home.
You Can Borrow a Cup of Sugar
Apartment living often means that as soon as you get to know your neighbors, they move. Because most homeowners stay in their homes for longer periods of time, they're more likely to form relationships with their neighbors.