Buying Vs. Renting: Top Reasons Home Ownership Comes Out On Top

new homesAt a certain point, most people have to weigh the pros and cons of renting vs. buying a home. While renting does have its advantages — fewer responsibilities and more flexibility, to name a couple — there are distinct benefits to buying a new home that renting simply can’t offer. For current home buyers, the top three priorities include privacy, family needs, and asset accumulation. Below, we’ll take a closer look at how owning new homes can help buyers accomplish these goals.

  • You can make the space your own
    When you look at houses for sale instead of ones to rent, you’ll have way more options to customize the space to fit your style and needs. When you rent an apartment or house, you’ll be lucky if your landlord lets you paint the walls or make even small layout renovations. But once buyers move into their new homes, they can do virtually whatever they want. If you want to knock down a non-load-bearing wall or gut the kitchen or guest bath, you’re well within your rights to do so. And if you’d rather switch out carpeting for hardwood or go wild with backyard landscaping, no one’s going to stop you. You’ll be free to put your own stamp on your real estate with home ownership.
  • You’ll have more privacy
    When you live in an apartment building or rented condo, you’re bound to feel a little too close to your neighbors. Whether you’re looking for absolute peace and quiet or you just want a little space between you and whoever lives next door, new houses can provide the privacy you desire. And because you’re not beholden to your landlord or property manager, you won’t have to worry about them inconveniencing you to conduct repairs or a potential tenant tour. If you do need repairs, you can schedule them on your own timetable. And because you’ll own the property, no one can bother you if you don’t want them to.
  • You can build wealth
    Depending on the condition of the home you purchase or the area in which you live, it’s entirely possible to fix up a home and potentially turn a profit if you decide to sell. Making an investment in real estate is almost always a good idea, and home ownership allows you to build equity. Renting, in contrast, does not. It’s also a lot more cost-effective over time. The money that you spend on your mortgage or on the purchase price goes toward an asset; when you pay your rent every month, there’s no long term payoff. Even new houses give you the opportunity to build equity and get a potentially great ROI. The same cannot be said for rental properties.
  • You’ll have stability
    Renters tend to move often. Due to the nature of a lease, that flexibility doesn’t typically allow you to put down roots. For some, that works just fine. But if you’re looking to settle down with a family or simply want to stay put for a while, you should look at houses for sale in your area. Owning a home allows you to truly be a part of a community. For many folks, that sense of belonging is priceless. If you’re tired of moving from place to place, you may be happier if you can find a property you really love and can see yourself in for years to come.

Owning a home can allow you to save money while making a great investment and customize your private living space for the foreseeable future. To learn more about the new homes available in the Philadelphia, Upper Darby, and Drexel Hill area, contact Creekside at Llanerch today.

Searching for a New Place to Live? Here’s What to Look For

luxury real estateThe millennial generation has finally entered into the home buying market and it’s a very exciting time. You’ve probably heard for years that your generation is spoiled, entitled, and lazy, but you clearly have worked hard to get to this point, so let all that noise fall on deaf ears.

It’s time for you to find a great place to live and settle in with your spouse to (maybe) eventually start a family! But what, exactly, constitutes a great place to live?

Here are a few things that the average millennial homebuyer is looking for nowadays:

Luxury real estate

Ask just about anyone on the home buying market and almost everyone will admit that luxury houses are at least atop their dream real estate list. Far too many people think that luxury homes cost a fortune and never pursue anything with the word “luxury” attached to it. That’s not always the case, however. There are plenty of excellent luxury real estate communities that are affordable — you just have to know where to look.

Energy efficient properties

Nearly half — 48% — of homebuyers that are interested in brand new homes admit that “energy-efficiency” is their most desired feature. Millennial homebuyers do enjoy smart appliances, luxurious designs, and other presumably costly features, but they still are quite frugal. Not only do they look for great deals when buying these otherwise expensive items, they also put a tremendous effort in saving on their energy expenses.

Great school districts

Even if you don’t have children now, it’s always a possibility. Millennials are always thinking about the future and considering future children is very important. Make sure that when you’re searching for a great place to live, you do a little research about the school districts beforehand.

Safe and clean neighborhoods

In a recent survey by Urban Land Institute, roughly 50% of survey respondents said that walkability is one of the top priorities in where they would choose to live. If you can’t walk around the neighborhood without feeling unsafe or finding piles of trash, it might not be the best place for you.

If you’re looking for new homes in Philadelphia and are hoping to find some luxury real estate in a safe, clean, and excellent school district, contact Creekside at Llanerch today!