It is no surprise that the housing market has seen its share of fluctuations over the years, which has continually impacted the age-old decision for many residents throughout Alabama–should I rent or buy? Ultimately, when it comes to the long-term benefits, owning a new home offers advantages that renting simply cannot match. So, whether you and your family are looking to settle down in Birmingham, Pike Road, Auburn, or even Opelika, Alabama, here’s why investing in a new construction home may be the better option from the new home builders at Holland Homes.
1. Building Equity Over Time
Perhaps the most significant advantage to owning a new home is the ability to build equity. When you rent a home, those monthly payments go directly to your landlord, leaving you with nothing to show for it in the long run. Yet, when you buy a new home, your mortgage payments go directly to your equity in the new home (the part you truly own).
This means that over time, as you pay off your mortgage, your equity in the home increases, which can be used for various purposes such as financing home improvements or even as a retirement nest egg.
2. Potential for Appreciation
Historically, real estate has been a sound investment, especially with home values generally increasing over time. In Alabama, this trend has been consistent in many large cities, but especially in the quickly growing college town of Auburn and the in the large suburbs of Birmingham.
This means that the value of your new home could increase over the years, potentially providing you with a significant return if you and your family decide to move. In contrast, renters do not benefit from property appreciation, and if anything rent payments can increase over time due to the appreciation of the property.
3. Stability and Control
As we briefly mentioned above, when you rent, you are unfortunately at the mercy of your landlord’s decisions. This could include a myriad of items, but most importantly this could mean rent increases, lease renewal issues, and even the possibility of being asked to move out. Unfortunately, this leads to a lot of anxiety among renters, leading to a sense of instability that shouldn’t be a part of your home.
Thankfully, when you own a new home in Alabama, you can have the peace of mind that your home is yours to enjoy and that your monthly payment is fixed.
4. Sense of Community and Pride
One of the greatest benefits of choosing to buy a new home in Alabama is the community that often comes with it. Many new home builders, like Holland Homes in Alabama, offer new construction communities with several amenities that encourage the growth of new friends and community. This can lead to a sense of safety, pride, and overall stability that the community around you is yours to enjoy.
Holland Homes – Your New Home Builder in Alabama
Ultimately, when it comes down to it, this is simply a breakdown of why owning a new home in Alabama may be a better choice than renting. More than anything, it is essential to do what is best for you and your family in whatever stage of life you’re in!
Yet, if you’re ready to make the jump and own a new home in Alabama, look no further than the new construction builders at Holland Homes! For more information on new construction or move-in-ready homes in Alabama, contact the team at Holland Homes today!
