First Time Home Buyer Oak Park MI: Renting vs Buying

Conquest Real Estate compares the advantages of becoming a first time home buyer Oak Park MI than renting out. This also highlights the long term financial returns of investing in a property.

Renting and buying both have positive and negative aspects when it comes to the homeowner. When choosing a house, one considers the availability of their funds as a topmost priority. It is always important to find a place to stay where you can find comfort and can pay it through your means. Renting has become a popular, practical choice when it comes to economic factors. However, nothing beats the convenience of having your own home; you don’t have to worry about your monthly rent, and you have a place which you can call your own.

If you are a first time home buyer Oak Park MI and is wondering about your property purchase, Conquest Real Estate (http://www.ConquestRealEstateGroup.com) shares this blog post for you to get a clearer picture. 

Buying and Renting: A Comparison

Owning a home is more than having a dwelling place. It becomes an investment, and for many families, it is the biggest investment they will be making in their lives. The funds placed into the mortgage will become a great value in many areas. When the loan principal has been paid, you are now starting to build equity into your home. Thus, you will be able to reduce the mortgage interest as well as property taxes from your income tax. Additionally, the net worth of your property will increase in the long time. First time buyer Oak Park MI buyers will thenrealize that rental is just pure expense without any value in return, while purchasing a home is otherwise.

When Are You Ready to Buy a House?

Just as with any purchase, buying a house is not just a simple decision, especially for first time home buyers. It is crucial to weigh the positive and negative factors of owning a house, as well as taking a clear view of all your finances. Conquest Real Estate shares that you are ready to buy a house, if you are:

1.      Employed and have a stable income

2.      Paying all your bills on schedule

3.      Ready to make a down payment

4.      Excited to manage your dwelling place, just as you want it.

When you have decided to buy a house, it is best to consult the help of the experts. Conquest Real Estate for one, will guide you in the whole process of home searching, document handling and purchase. Step into the doors of your new home; know more about first time home buying by consulting http://www.trulia.com/profile/Conquestrealestate/.

For more information about how Conquest Real Estate can help you as a first time buyer in Oak Park MI, you can call (248) 569-1486 or visit http://www.ConquestRealEstateGroup.com.