Know the Values of Homeownership

by Rita Alonso 08/11/2019

You’ve never owned your own home and your thinking about buying. Transitioning mentally from renter to owner can be confusing at times. As a renter, you haven't had to deal with the ins and outs of owning your own home, and as you examine the reality of ownership, it can seem like it involves more cons than pros. You have to take care of all maintenance, repairs, insurance, upgrades and more. With all the added work to maintain only to one day resell your home, it might not seem worth it. So why is buying a good idea? Here’s why!

Consistent monthly payments

As a renter, you constantly are subject to rent increases. Depending on your city or neighborhood, this might be a small percentage annually (if your rental unit is under rent control), or an annual increase determined in your rental agreement. In many cases, your rent is subject to your landlord’s discretion at the end of each term of your lease, and if the property value and quality of living go up in your neighborhood (as you hope it does), it could price you out of your favorite living space. When you choose to purchase a home, you make a longer commitment, but your monthly payments are guaranteed to be the same throughout the repayment of your fixed-rate mortgage. Living with no surprise changes allows you to set budgetary and lifestyle goals further into the future, and the certainty to achieve them.

Equity and future cash flow

Yes, you will likely need to take out a loan to purchase your own home. The upside to ownership is that every mortgage payment you make increases the percentage of equity you have in your home. When you rent, you are only paying toward the term of your lease and the owner of the rental property gains all the equity. Investing in your own property helps your financial stability for the future. The more equity you have, the better your net worth and the more you can invest in other properties or goods. The more stake you have in your home, the more valuable it becomes to you when you want to sell your property in the future—to create cash flow, or to invest in a new home, other property, or your retirement lifestyle. 

Apart from the personal value of owning your own home—taking care of it, raising a family there, or starting a new life in your place—the investment can add even more value to your life. If you’re considering your first home purchase and aren’t sure about the commitment or investment value, speak with your local real estate agent for the best advice for you. Review your current means, your interests and abilities, and your life goals and let them help you make the right decision.

About the Author
Author

Rita Alonso

As a native Sonoma County resident, Rita has witnessed many changes over the years. Sonoma County has invested considerable time and energy into revitalizing our downtown areas, developing mid to high end homes and constructing affordable housing, yet the warmth and small town feel of decades past still remains. We have fine restaurants and big-city entertainment, as well as great schools, including a top-notch junior college and state university, all located in the heart of Sonoma County’s wine country. This warm and friendly county is an ideal location for you and your family.

Rita is passionate about what she does and people are her first priority. By working with a full time Real Estate Professional, who really understands the market and has a pulse on Sonoma County, you can be confident that Rita’s professionalism and community connections will lead you home.

Buying or selling a house is a big step. Rita is committed to helping you throughout the process. You can trust that she will work with you to understand your vision and do all she can to insure that your desires are met. She is committed to meeting your needs with integrity and top-level customer service. Rita is a great negotiator and she is on your side to get the price you need to sell or the price and credits you need to buy. Please call today so that Rita Alonso can go to work for you!

About Rita Alonso

She is a graduate of Montgomery High, Santa Rosa Junior College and the University of San Francisco. She had worked in the mortgage industry for 10 years before getting her Real Estate license in 2004, specializing in buying and selling residential, commercial, investment properties, along with experience in short sales and bank owned properties. She is a member of the National Association of Realtors, the NorthBay Chapter of Realtors, the Women’s Council of Realtors, and the Santa Rosa Chamber of Commerce. Rita has been a Top Producer for over seven years and she has just joined a dynamic team of Top Realtors in Sonoma County called Marketing Masters. With her team, Rita can make a difference in top customer service and getting the job done.

Rita is also the mother of two grown sons and two grandchildren and continues to enjoy being actively involved in the Sonoma County community.

Rita’s goal is to exceed your expectations as your Realtor for life.
Let Agent Rita “Helping you see your way home!”

Please call today so that Rita can go to work for you!

Rita Alonso
Professional Real Estate Agent
“Helping You See Your way Home!”
By the way: If you know anyone buying or selling Real Estate anywhere in the USA, pass their names along. I can help!

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