9 Ways You Know You’re Ready to Upgrade from an Apartment to a House

Debbie Bremner March 29, 2017

There are some advantages to living in an apartment, but there often comes a time when it actually makes more sense to upgrade to a house. If you’re having a hard time deciding what to do, take a look at these nine signs that you’re ready to make the transition.

1. You Find Yourself Searching for Houses Online in Your Spare Time

It’s fun searching for a home, especially when you can do so from the comfort of your home. Whether you’re searching on Los Angeles HomeFinder or Zillow, online real estate databases are great places to start your journey to homeownership. This gives you a chance to get the lay of the land, compare costs and neighborhoods, and eventually move you toward getting your “just right” home.

2. You’re Ready to Put Some Space Between You and the Neighbors

Neighbors can be a joy, but there’s something to be said for personal space. When you’re looking for a home, you have the option to purchase something that’s as close or as far from people as you want to be. Let your relationship with your neighbors be one of sharing pies and borrowing rakes, not knocking on doors to tell them to quiet down late at night on a weekday.

3. You’re Tired of Paying a Landlord Every Month

There’s a pretty common misconception that renting is always cheaper than buying. Take a second to think about your spending over several years. When you rent, you pay the same amount time and time again (until the rent rises), but you don’t gain anything from it. You pay rent to maintain your current lifestyle. The biggest perk of owning a house is that, with each of your mortgage payments, you’re actually paying down a portion of your loan on the house. These little slivers of ownership add up over time, and soon you’ve built wealth simply by making your monthly payment.

4. Your Family’s Growing and Needs More Space

Whether you’re expecting the pitter patter of little feet or your cousin wants to crash on your couch (indefinitely), it may be the time to consider upgrading to a home. Purchasing a house often means more room for you and your family. And if you’re looking to expand your family, having a secure place to call home is a great option.

5. You’re Looking for Tax Benefits

If you’re interested in making the most of your income, consider the tax breaks that homeowners get. Owning a house includes a handful of tax perks, but the biggest deduction comes from your monthly payment. All the interest you pay on your loan is tax deductible (unless your loan is for more than $1 million). The other big tax deduction comes from mortgage discount points, which allow you to buy down your interest rate. The money used to purchase these points is tax deductible.

6. You Want to Redecorate and Renovate to Match Your Personality

It’s fun to make your home match your personality, but renting often comes with rules that limit what you can do. If you’re interested in giving your home a complete makeover or even renovating rooms and layouts, you might be ready to purchase a home. Roll up your sleeves and make the most of your space!

7. You Want an Outdoor Space

Your green thumb is aching for the chance to give up container gardening. You’ve dreamed of a chicken coop.  You want to let your kids – and your dogs – run wild in a yard, as being cooped up in an apartment can be difficult for them. The freedom of a yard also allows you to enjoy other activities. Nothing says summer like whipping out the grill and throwing on some burgers.

8. You Want Your Home to Be an Investment in Your Future
Not only will a house provide a space for you to live, it’s also an investment. Making your monthly mortgage payments will result in equity, which will grow over the years. You can then use the equity to buy another house, renovate with the help of a cash-out refinance or find the money to retire through a reverse mortgage. In addition, equity is built using leverage: you can put as little as 3% down, but you receive equity on 100% of the total value of your home. That means that you take advantage of your lender’s investment in financing to grow equity.

9. You’re Looking for a Place to Call Your Own

When it comes down to it, a house is a home base for you and your family – a place that you can call your own. Some call homeownership part of the American dream, and it certainly does provide opportunities and a measure of security for your family and your future.

Are you ready? If this list describes you, it may be time to start looking for a home. With the right help, getting started is easy. Take the next step toward making your dream a reality by reaching out today! I make home happen.

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