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Why You Should Buy a Home

Why You Should Buy a Home

Why You Should Buy a Home

June is National Homeownership Month
Have you considered buying a home in Florida? From being a prime location to live to increasing your net worth, there are many advantages to owning a home in Central Florida. As June is National Homeownership Month, we weigh in four benefits of purchasing a home.
 
 

Consistent monthly housing payments

No longer will you have to deal with the unpredictability that comes from renting such as lease termination, change in landlord or rent spikes. As a matter of fact, buying a house rather than renting is often a more affordable option. While home insurance rates and property taxes may not always be steady, you are able to pay the same amount of fixed rate throughout the entire time of your home loan through a fixed-rate mortgage.
 
 

Beginning your retirement mortgage-free

There’s no feeling like getting to live in a house you can fully call your own. Once you pay off your mortgage, you’ll be able to allocate money you’d be spending on housing to other things you’ve been wanting to splurge on. Now that’s an attainable Florida retirement dream!
 
If the house you’re purchasing isn’t the one you want to officially settle in forever, you can always sell it and use the money to fund your retirement. After all, the average American has about double in home equity as they do in their retirement savings.
 
 

Receiving Florida tax benefits

Owning a home in Central Florida gives you the advantage of getting to claim some extra tax deductions such as:
  • Mortgage interest
  • Mortgage points and insurance
  • Property taxes
  • Medical home improvements
  • Energy efficient upgrades

 

Earn extra income

Whether you choose to hire a property manager to lease your property to a tenant, host with Airbnb (the average host earns about $924 a month!) or rent out a spare room, by owning property you have the opportunity to earn passive income.
 
 
Owning property in Florida is something to take pride in. It’s a milestone to celebrate! While it is a significant commitment, the financial and lifestyle benefits make it a worthwhile investment. Don’t know where to start? Contact us to speak with a Bardell Real Estate agent and learn more about how you can buy a Central Florida home.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

As Rent Prices Rise, Many Consider Buying

As Rent Prices Rise, Many Consider Buying

According to the National Association of REALTORS®, home rent prices are anticipated to rise nationally about 4.6 percent in the next year. This is up from the 4.1 national percent increase from this year.

The marketing research firm, Reis further forecasts that national rent prices are anticipated to rise even further.

Yet another 4 percent for both 2014 and 2015, looking ahead. Senior economist for Reis, Ryan Severino, told USA Today: “The pendulum has definitely swung back in favor of landlords, not renters.”

Examining Rent prices across the United States, San Jose,Calif., andSan Franciscohave been climbing at a 13 percent to 15 percent annual rate as of late last year, according to MPF Research. Other metro areas that are seeing rent prices increase of more than 5 percent include Oakland, Calif.; New York; Denver; Houston; Nashville; and Columbus, Ohio, MPF reports.

Greg Willett, MPF vice president says the rise in rent prices are causing more renters to consider home ownerships. With mortgage rates at a historical low, potential homeowners have a reason to be optimistic about buying. The stronger economy and lack of new supply continue to drive apartment rents higher.

At the same time, household formation is up 1.1% over last year’s levels and will grow slightly faster next year, Severino also says. With the strengthening economy, Severino also indicates that more people will move out on their own. Willett also adds that the stronger economy has emboldened renters to move more often. That affects how aggressive landlords can get with rent increases.

Considering in either renting or buying property in the Orlando, Florida Area? Contact an agent at Bardell Real Estate, and find out how we can assist you today.