McLellan - Townhomes
Owning a home — any home — is much better than renting. Instead of sending all that rental money away each month to someone else, you’ll be investing in your future, building up equity and increasing your net worth while you work to pay off your home. In Edmonton, houses for sale under $300,000 aren’t much more per month than renting, which makes buying a home for an affordable price a great option for those that are over the whole rental game.
With various housing and financing options, it’s also easier to buy a home in Edmonton than ever, and that can mean realizing the dream of homeownership for those that may have not been able to afford a home in the past. Here are some more benefits of owning a home.
Build Equity By Owning
Whether you’re a first-time homebuyer or you’re trading up to a nicer home in a better area, there’s no better way to build equity and wealth than owning your own home. Sure, that Edmonton house for sale may have cost you under $300,000, but each time you make a mortgage payment instead of writing a rent check, you’re actually paying yourself. After long enough, you’ll own the home outright, which is something that is impossible to do while renting.
It’s a Good Investment
Owning your own home is a good investment in your future because, as we all know, home prices basically always go up. No matter where you buy, and especially for Edmonton houses for sale under $300,000, you’ll be owning a piece of Canadian real estate that can really pay off down the line. Generally, homes increase in value over five-year blocks, so if you’re looking to flip your home it could be a good idea to wait for five or 10 years to get the most out of it if you’re not making lots of renovations and putting more value into your home. Even if you’re not looking to sell immediately, you’ll still be building your net worth every month that you make that mortgage payment.
Homeownership Is Stable
If you’re sick of moving every few years because of out-of-control rental prices, homeownership is a way to protect your wallet from the appreciation of property values that happens with each passing day, week, month and year. Not only is your mortgage more predictable than rents that often increase year after year, but in owning your own home, you know that you won’t run the risk of being priced out or having your landlord ask you to leave if they want to move back in or if they want to sell the place.
When you own your own home, you don’t have to worry about the landlord dropping by for an impromptu visit or to check that everything’s going well with their property. And without a landlord policing your every move, you can finally do all the things that you want to do in your home such as painting, replacing fixtures or making a change just because you feel like it. It’s your property, and no one will be able to tell you what you can and can’t do with it — as long as you’re abiding by local building codes and regulations.
When you finance one of our Edmonton houses for sale under $300,000, you’ll end up with a flexible means of payment that is better than any rental agreement. As a homeowner, you’ll have access to programs and assistance that you would never qualify for as a renter, and that can mean flexibility in how you pay your rent. If you happen to come into some money or you want to double down on your payments to reduce the time that you’ll spend paying off your home, you can do that, too.
Leverage the First-Time Home Buyer Incentive
For first-time homebuyers, you’ll also get the ability to reduce your burden and make homeownership more affordable. That can help lower your monthly mortgage payments by hundreds per month as the Canada Mortgage and Housing Corporation can help you reduce your mortgage cost by up to 10 percent. And when you combine that with the other savings and the equity that you’re building up with each passing day, that means homes for sale under 300k in Edmonton are a distinct possibility, not a pipe dream.
Take Advantage of Other Homeowner Services
Here in Edmonton, houses for sale under $300,000 are a great investment. But it’s an even better investment when you consider the different programs that you’ll qualify for as a homeowner. Whether it’s a new housing rebate or taking advantage of energy efficiency and alternative energy programs, you’ll be able to control your destiny as a homeowner much more easily and effectively than as a renter.