Local realtor, mortgage loan officer share benefits of buying a home
BRYAN, Texas (KBTX) - It’s no secret that buying a home is at the top of the list when it comes to living the American Dream. However, choosing whether to buy or rent is a major financial decision that really depends on the person you are and the lifestyle you choose to live.
Local Realtor Jeff Mills and Mortgage Loan Officer Jenny Donaho stopped by The Three to break down the benefits of buying a home versus renting one.
Mills says the benefit of buying a home instead of renting is that you are not paying someone else’s mortgage. He adds that a home is also a great investment.
“Buying a home is the first step to building wealth,” shared Mills.
With the housing market constantly fluctuating, Donaho explained that right now is a good time to make the big purchase.
“If we look at historical data what you will see is it’s always the right time to buy a home. What you’ll see is that housing prices are always steadily going up. It’s always increasing, so it’s always a good time,” said Donaho.
Donaho says if you wait to buy a home, you will miss out on the equity.
“What happens is the home increases in value and the home you wanted previously has gone up in price,” she explained.
Mills says if you are not sure if you are ready to buy a home, talk to a trusted realtor or mortgage lender.
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