To Rent Or Buy In Richmond Virginia... Food For Thought

Tired of renting?  Have you ever considered purchasing your own home?  If so, now might be the perfect time to buy in RVA.  There are so many advantages of homeownership as opposed to building someone else’s equity through your monthly rental payment.  As a homebuyer, your money works for you, not your landlord.

Your Mortgage Payment May Be Cheaper Than a Monthly Rental Fee, Yes Really!

With recent increases in rental costs, it is totally possible that you could pay less each month on your mortgage payment than you could shoveling out rental fees year over year.  Many lenders offer loans with a variety of terms and features, so it pays to shop around and find a lender who can offer you something within your budget.

A Secure Investment

I think most people would agree that real estate is a good investment both now and for your future.  Homes that have been well maintained usually increase in value as time goes on.  In the Richmond Metropolitan Area, historically, some areas hold their value better than others and rebound faster if there is a downturn in the market.

You Are In Charge

As the homeowner, you hold the reins to any decision that may need to be made.  This allows you to have interior decorating freedom and the capability to update and select the vendors and trades people of your choosing.

Piggy Bank Incentives

You may want to consider a fixed-rate mortgage that allows you to budget your spending throughout the year since your payments remain the same.  Your piggy bank may also enjoy any savings you may be able to reap when taxes come due based on itemizing deductions such as real estate taxes, insurance, and mortgage costs.  For additional information, I recommend checking with your tax accountant.

Have I peaked your interest in moving forward as a prospective homebuyer?  If so, contact me to begin your home-buying adventure.