If you’re ready to own a home, you can expect these benefits:
- Pay the same base amount every month. If you choose a fixed-rate mortgage, your mortgage payments won’t go up, even over the course of 30 years (although the interest on your mortgage can go up). However, rent can be increased by your landlord, and if you move places, you may have trouble finding low-cost rent.
- It’s yours at the end! Best of all, you’ll have a place that belongs to you. You will have a place to raise your family, become part of the community and even pass that home down to children, giving security to the generations to come.
- You build a good investment. If you own a home, you will be able to pay for unexpected emergencies that come your way. Owning a home is the best way to have financial security.