The Costa Mesa Blog by Torelli Realty

Costa Mesa Market Updates, Community News, and more!

Five Benefits of Home Ownership

Thinking of buying a home but you’re still on the fence? There are plenty of pros and cons to home ownership but depending on the person, some may outweigh the others. Hopefully some of the following benefits of owning a home with help you decide whether or not it’s the right decision for you.

It’s All Yours

No more calling your landlord to ask if it’s ok to hang up a picture. This place is yours to do what you please with it and to make it your own. With that being said, there is a tremendous sense of pride that comes with home ownership. You will have a deeper connection to your community and your neighbors and the feeling that comes with that is irreplaceable.

Built in Equity

No more squandering your hard earned money. Every mortgage payment that you make is money in your pocket, in the form of equity. This not only increases your net worth, but builds up over time to amount to a pretty hefty nest egg over the years.

Security

When it comes to renting, there are a number of variables that are outside of your control. Your landlord may decide that they no longer want to rent the home for instance. Worse, they may decide that they want to increase the rent on you. With a mortgage payment, the amount that you pay is fixed. And as long as you make your payments, you know that the home is yours for as long as you’d like.

Time Value of Money

It’s been said that the greatest appreciating asset is land. It is true historically, that over time land appreciates. It may happen more rapidly in some places than others, but if you hold on to your property long enough, the home is ever appreciating. Some owners, as much as they love their homes can not pass up the opportunity to move once they find out how much their home has increased in value.

Establishing Credit

It is true that shortly after purchasing a home, your credit score may suffer. However, in time, as you continue to make your payments in a timely manner, your credit score increases. Home ownership is one of the best tools you have in establishing a great credit history.

Hopefully after considering all of the above points, you now have a better idea as to whether or not home ownership may be the right path for you.

If you are interested in buying or selling a property in the Costa Mesa area, Contact Torelli Realty.

Leave a Reply

Your email address will not be published. Required fields are marked *

Buying With Torelli Realty
Fill out the form below, please add your Name, Email Address, and Phone Number - One of our agents will contact you as quickly as possible to answer any questions you have.
Thank You! We will contact you shortly. Please check your email!
Selling With Torelli Realty
Fill out the form below, please add your Name, Email Address, and Phone Number - One of our agents will contact you as quickly as possible to answer any questions you have.
Thank You! We will contact you shortly. Please check your email!
The Coffee Cup Meet Up
We know it isn't easy to buy a home, we can help you find the one home you want with a simple Coffee Cup Meet Up. You can sign up below and we will contact you immediately or find out more information here
Thank You. We will contact you as soon as possible.