Turn Your Home Ownership Dreams into Realities and Start Living
Home ownership is a shared dream among countless Memphis families and investors. However, the age-old debate between owning or renting a home continues across the industry. While renting has certain benefits – why would you pay your landlord’s mortgage for him or her? There are many great places to buy a house in the Memphis area.
Similarly, you will still be responsible for maintain and up-keeping the property so long as you are a tenant. According to industry experts, buying a home is truly a better option than renting one. For one, homeowners get additional tax benefits – including having their mortgage interest being totally free. Second, homeowners are only responsible for property taxes, and do not have to worry about monthly mortgage fees. Third, owning a home gives you the freedom to maintain your property as you life -so long as it meets your HOA and deed requirements.
The Many Benefits of Home Ownership in Memphis
Becoming a Memphis home buyer is one of the best ways to establish equity and even increase your credit ratings. It can also be used as collateral for other purchases – and once your mortgage is paid off – you can borrow money against your equity. Why settle for costly rental homes or apartments when you can use that money to invest in a home?
The current market forecast is simply great for home ownership and investments. In fact, there is more money on the market – and the fiscal housing crisis of years past is no longer relevant. The outlook for the real estate market in 2018 is outstanding. Add current all-time low interest rates and you truly got it made. All you have to do is connect with a local Realtor who can showcase the latest homes for sale in your immediate area.
Owning a Condominium
Condo ownership can offer even more advantages over renting. If keeping up with a yard or maintenance and upkeep have you nervous about becoming a homeowner, condos may be for you. When you buy a condo, the condominium complex handles all of the maintenance in the common areas. This includes just about everything outside of your home. You are only responsible for the maintenance, upkeep and insurance of the condo from the sheet rock in. The remainder is paid for out of your condo dues every month and run by a board of directors.
Here are some more benefits of owning homes – rather than renting them:
• As mentioned above, home ownership is a lifelong investment that builds equity and financial gain.
• Property ownership also gives you the freedom to do what you want with your home.
• You can save money on costly home or apartment rentals, which can be used for home maintenance – upkeep – or HOA fees.
• You only have to deal with property taxes – but that too can be deferred until the end of the year.
• No more worries about monthly rental fees, or noisy neighbors in apartment buildings.
• You have the freedom to finance your home purchasing, as well as take out primary or secondary mortgages to help you meet all financial – closing costs.
• Homes are synonymous with tranquility and serenity and – buying a home can be therapeutic – especially in gated, safe and deed-restricted areas.
• Home ownership is something than can be passed on to your children or grandchildren as well.
Buy your Dream Home Today
Home ownership does not have to be a long-lost dream. In fact, more people are buying homes across the country than ever before. You can also take advantage of home loans, including FHA and even income-sensitive subsidizations. This is the best way to make your ends meet, while ensuring you have enough cash-flow for closing and other costs. For more information on buying a home, simply contact your local real-estate agent or firm today.
Map of Memphis
Memphis TN Real Estate Statistics
Inventory is low in Memphis TN which shows a demand for local real estate. Generally, when inventory drops, its not too far behind that the average home price starts to creep up. This is looking out to be a PERFECT time to buy a home in Memphis TN.
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