03 July . 2021
Should You Rent or Buy?
Is Buying a House a Good Idea?
Most likely, Yes! Buying a home is a big decision, but it doesn’t have to feel like a risk. In Estrella, you can feel confident that you are purchasing a home that’s built to last in our resort-style, master-planned community. When weighing the differences between buying and renting a house, it’s important to know the tangible and intangible benefits that come along with homeownership.
When questioning, “Should you rent or buy?” consider these pros:
Security & Stability
Your home is yours to call your own—this can provide feelings of stability and comfort, not to mention overwhelming pride of ownership.
Sense of Community & Belonging
As you plant roots and create strong ties with friends, neighbors, and family, you begin to gain a sense of comfort, community, and belonging.
When you purchase a home, it’s yours to style any way you would like. You have unlimited freedom to customize your space. If you want to repaint, do it. If you want to install different flooring, go right ahead. If you want to remodel or DIY every element, go crazy. This is something you are not able to do when you rent.
Buying your home means that you own it. At first, you only own the portion for which you’ve placed a down payment, but over time you build up equity, and as you pay the mortgage down, you begin to gain more and more ownership in your house. Additionally, your home value may likely increase over time. You can consider it an investment in your future.
Farewell to Rent Increases
By purchasing a home with a fixed mortgage rate, the payment stays the same for the life of the loan, unlike rent, which typically increases year after year. Over time, you may be able to refinance your home mortgage to save even more money in the long run.
Owning a home comes with various tax benefits, and you may be eligible for tax deductions, including interest and points deduction.
Homebuilders in Estrella are always looking for ways to provide home buyers with the most up-to-date options and state-of-the-art features. Not only is buying a home an excellent choice, but our community features beautiful homes from a great selection of builders, each with a wide variety of floor plans guaranteed to meet your unique lifestyle needs.
When you buy a home in our master-planned community, you also reap the benefits of countless resort-style amenities, including:
- Neighborhood dining
- 50+ miles of parks & trails
- Award-winning golf course
- Quality schools
- Family fun activities
- Resident clubs & activities
- High Sonoran desert views
- Lakeside opportunities on North Lake including sailing, canoeing, and kayaking
- Shopping & entertainment conveniences
However, if You’re Left to Renting….
Renting a home is not a bad option, however, it’s not a good investment over a long period of time. If it’s the only option you have, there are few benefits to note, including less maintenance costs if your landlord handles the repair bills, you don’t pay real estate taxes or a down payment other than deposits, and you have the most flexibility if your job requires you to move frequently.
Renting can be a great short-term option while you figure out where you want to plant your roots for a longer period of time or if you need to get your finances in order to qualify for a mortgage or save for a down payment. In Estrella, we’d love for you to enjoy our community for the long-haul. So next time you're around, come speak to one of our builder sales representatives as they can help outline what’s best for you when it comes to the differences between buying and renting a house.
All in all, the pros of buying a home significantly outweigh the cons, especially in Goodyear, Arizona. This is even truer for the community of Estrella, where the resort-style amenities are awesome, and the memories made are priceless. It’s time to stop asking yourself, “Is buying a house a good idea?” and instead, start planning for when.
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