If you are looking to move to Atlanta, there are a few things that you should know about its real estate market. Home prices are the highest in the metro Atlanta area, and they are expected to keep on soaring as homeowners expect to get more value for their homes in a few years. This makes it very difficult for buyers to find the right home, since they are in short supply. The best option in the eyes of many of people is to rent a home instead of buying, but that isn’t the best course of action to take.
Real estate experts know that buying a home is getting harder in America, but if recent events are showing one thing, it is that renting is the way to go. Real estate agents state that flexibility on leasing contracts, no property taxes, elimination of repairs and maintenance, and lower insurance rates means that there are infinite advantages to rent a home instead of buying one. There are positives and negatives for both sides of the argument, but renting isn’t always the best option.
That is why we are going to share simple reasons that state why buying a home instead of renting one in Atlanta is the best decision you will ever make.
1. Stability is always good
One of the main reasons why buying a home will always be better than renting one, is that you get stability. You own that property, and can choose to stay in that location for as long as you want. If you plan on staying in Atlanta for a significant time, then buying a home is better than renting one, because you can’t place value on stability and settling down. The best part about buying a home in Atlanta is that, if you manage to find a place, the value of the home is going to increase. It is like a savings account and the equity is going to increase over time, if recent events are any indication.
2. Rising rent prices
Another reason you should buy instead of renting is that renting rates in Atlanta are increasing rapidly, with estimate numbers showing a 5% increase in the past year. Real estate experts are predicting rent to keep on going up, with prices expected to rise by 3.5%, while the price of buying a home will increase by 2.5% in comparison.
3. Fixed mortgage
When you get a fixed mortgage, there is no need to worry about price increases, because it will stay the same. This is perfect for people on a budget, because buying a home, means they make stable payments, instead of worrying about rent increasing. You can easily pay off your mortgage, and then never worry about making another payment, while renting means you keep on paying.
4. No rules to follow
If you are bad with rules and don’t want to listen to your landlord about what time you can come home, or whether you are allowed guests or pets in the house, than you should buy a home. You are the master of your house, and don’t need to listen to anyone about what you can do. There are no rules to follow, and you can make improvements or keep pets in your own house without permission.