Happy Labor day everyone! A lot of us millennials rent but with families on the way and remodeling projects on the mind rentals are no long feasible. Here are five signs it’s time to get out of the rental and purchase your dream home!
Although renting has its perks, many homeowners say there’s nothing quite like owning something you can truly call your own. Experts weigh in on five tipping points that often inspire renters to take on a mortgage and sign on the dotted line.
1. You want control of your surroundings and environment
2. You’re interested in a specific city or school district
3. Your family grows — or shrinks
4. You find a good deal
5. You have the down payment
As soon as you have your down payment saved, don’t be afraid to part with it, Levinson says.
“A lot of people reach their goal and then they don’t want to part with that money. The danger is that your eyes will start to get bigger, and you may try to purchase a bigger home than you can afford.”
Likewise, once people have their down payment, they may want to hold onto it for longer than necessary.
“A lot of people keep thinking something bigger and better will come along, but that day might not come. At some point you have to say, ‘This may not be our dream home, but it’s a good home and we’re going to go ahead and do it.'”
Jason Salehi - Rock Realty & Investments, LLC 