Go from renting to owning a home

Are you tired of shelling out money every month for rent, without anything to show for it? Have you been dreaming of owning your own home but feel like the upfront cost is too high? Well, you're not alone. According to a recent survey, 60% of renters say that down payments are a barrier to buying a home. But don't let that discourage you from pursuing your dream of homeownership. There are down payment assistance programs available to help make your dream a reality.

Buyers often assume that they need to save up 20% for a down payment, but that's not necessarily the case. There are programs available that require as little as 3% down. Some programs even offer grants that don't need to be paid back. It's worth looking into these programs to see if you qualify, as they can provide a significant boost to your ability to purchase a home.

Owning a home can also bring about a new lifestyle. You'll have more control over your living environment and can make changes that suit your tastes and needs. You can also enjoy the stability of having a fixed mortgage payment, knowing that your monthly housing expenses won't fluctuate as much as they would with renting.

In the real estate world, there's always news to keep up with. Staying informed about market trends and changes to laws and regulations can be helpful when making decisions about purchasing a home. For example, the introduction of new tax laws in 2018 changed the way homeowners can deduct mortgage interest and property taxes on their tax returns. Staying up-to-date on these changes can help you make better-informed decisions about when and how to buy a home.

In conclusion, don't let the perceived cost of a down payment discourage you from pursuing your dream of homeownership. There are down payment assistance programs available that can make it easier to make that initial investment. Owning a home can bring about lifestyle changes and provide more stability in your living situation. And staying informed about real estate news and trends can help you make better decisions when it comes to buying a home. So, go ahead and take that first step towards owning your own home!