Tenant or Homeowner? With rental rates on the rise, many Central Maine renters from Lewiston-Auburn to Augusta are taking a fresh look at their residence situation and our Buyer Agents agents are busy taking their calls and showing property.
Owning your own home and paying down your own mortgage has always seemed more appealing than paying a landlord’s mortgage every month. This time of year, as people prepare for the tax man, it really hits home as people review their whole year’s finances out there on one piece of paper, seeing how thousands of dollars have slipped away for another year can be a little frustrating. Not surprisingly, then, this is a time of year when, our buyer’s agents are busy as bees. We’ve been flooded with calls and inquiries from new buyers entering the market in the last 30 days.
Seen from the long term perspective, dollars put toward a home you are buying go toward building a future -- something rent dollars cannot do. But there are more intangible benefits to owning versus renting: control over the title being potentially the most valuable. Any tenant who has been forced to move because the homeowner needed to sell, or was foreclosed upon, or decided to move back in himself, is someone who has learned the value of controlling when their next family move should happen.
For tenants newly considering becoming a first-time homeowner, consulting a reputable Central Maine real estate professional is the place to start. An experienced buyer’s agent can help you determine a practical budget, and then guide the pre-qualifying process to make it happen.
The next step will be to identify properties that fall within your budget. Are there towns or neighborhoods you have always wanted to live in, but thought you couldn’t afford? In today’s market, just about every area has short sale bargains for those who are patient. A good real estate agent can help you identify potential homes at bargain prices. Some might need a little work, but the long-range payoff can be huge.
The bottom line? Everyone has to pay to live somewhere, and in today’s market, owning a home in Central Maine is more attainable than ever. With mortgage rates still at near-historic lows, if you are considering your options, give us a call at (207) 689-9880! We have a Buyer Specialist that does not take listings and only represent buyers. We are always available for questions -- and would be happy to schedule a consultation anytime you decide it is worth exploring.
Comments(1)