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Purchasing a place to live or purchasing investment property is an action that has a lot of moving parts;
starting with the most important question, “do the numbers make sense?”

Buying and owning real estate can be a emotionally satisfying as well as financially lucrative but it is up to every individual to decide the what, when, why, and how as it relates to obtaining this potential asset. Owning a home is a financial commitment that requires you to look ahead and see what direction your life will need to take in the years to come. It takes a lot of self-reflection as well as strategic planning because it is a decision that will directly impact the other areas of your life. Your financial portfolio, your job/career trajectory, as well as your social/family situation will all play into your decision on if the time is right to buy. 

Shifting real estate markets also play into deciding if buying is the better option over renting. While traditional mortgages take 20-25% as a down payment, there are many programs and options out there that only require the purchaser to be able to come up with 3-5% of the total price for a down payment. That option in itself helps make home ownership more obtainable to the majority of people. Coming up with the down payment as well as the closing costs are two of the hardest tasks for the purchaser in this whole house buying scenario.

Home Owning Facts

  1. Most mortgages require a down payment and the larger your down payment the better your mortgage terms.
  2. You can usually customize and renovate your home to boost it’s long term value but the cost of doing so will fall solely on you the buyer.
  3. Homes values rise and fall over the course of time; mostly the criteria for the rise and fall is out of your direct control
  4. Building equity in your home (the market value of your home minus the cost of repair) will add to your personal and generational wealth.
  5. Homeowners have tax deductions which lower their tax burdens
  6. Mortgage rates are more stabile than rent rates; rent rates generally increase 2-5% every year. Depending upon the type of mortgage, your rate could stay consistent for up to 30 years.


The Elite Investment Realty team as well as our business partners are here to help guide and support you in every step of this journey!