Renting a house is an ideal way for people to transition into the next chapter of their lives. Traditionally, people rent to save up to buy a Long Beach house. However, renting a house in Long Beach leaves you with no assets and very little savings. Why wait to start investing in your future, especially when Long Beach has new programs that make purchasing a home worth your while? Here are some reasons why you should buy a Long Beach house instead of renting one.
Buying a Long Beach House Gives You Assets
At this point, paying rent for a Long Beach house is the same price as a monthly mortgage. If you know you want to spend the rest of your life in Long Beach (and we don’t blame you), then why wait for your forever home?
When you rent, you are paying off someone else’s mortgage. Pay off your own. If you decide to move, at least you might be able to make some money on the deal. For those who are Long Beach lifers like us, then you’ll eventually own your property and have no payments. Either way, buying a house leaves you with far more options than renting one does.
Long Beach Home Improvement Rebate Program
One of the reasons people like to rent is that the upkeep of a home is too expensive. Thankfully, Long Beach has made renovating your home easy and affordable. Through the Long Beach Home Improvement Rebate Program, the city will allow qualifying homes up to $2,000 toward exterior home renovations.
Some of the services they offer cover:
- Paint
- Stucco
- Doors
- Driveways
- Porch
- Windows
With this program, you can save money by buying a Long Beach house that needs a little TLC. In fact, these fixer-uppers may end up being cheaper than renting each month! Then, you invest the money awarded through the program toward improvements that will bring up the value of your home. That makes buying a Long Beach house a smarter financial investment in the short-term and long-term.
Buying a Long Beach House is More Secure Than Renting
Initiatives like the Long Beach Home Improvement Rebate Program drill home the sense of individuality that comes with owning a home. When you rent a house, you might not be able to dictate things like paint colors, flooring, or a garden in the backyard. However, homeowners have the right to do whatever they please with their property.
Plus, renters never have a permanent roof over their heads. Even the longest-running tenant-landlord relationships can come to an end. Perhaps the landlord wants to sell? Maybe they passed away, and an heir wants to move in?
All of these are real-life situations can disrupt the life of a tenant. On the flip side, homeowners don’t have these concerns. That’s why it’s better to buy a Long Beach house instead of renting one. Let us help you look for your forever home today.
