BENEFITS OF OWNING A HOME

BENEFIT OF

Homeownership in Dallas-Fort Worth

The Benefits of Buying a Home in Dallas-Fort Worth

The benefits of home ownership fall into one of two categories. There are the personal and financial benefits for you and your family and then there are the lifestyle benefits of owning your own property instead of renting. Dallas-Fort Worth homebuyers are usually interested in all of these benefits, but which are most important to you depends on your personal priorities.

Improve Your Credit

Many of our clients are concerned their current credit isn’t good enough to qualify for a home loan. We refer them to our preferred lender, who often helps them get pre-approved quickly. Paying your mortgage on time every month is a great way to improve or establish good credit. It shows the credit bureaus that you’re not a risk.


If your credit isn’t great when you first buy your home you might not qualify for the lowest rates, but after five or 10 years of paying your mortgage on time your credit will likely improve significantly. Then you can refinance your home for an even lower rate and maybe even shorten the term of your loan.

Find the Right Home for You and Your Family

The Dallas–Fort Worth metro area is truly massive. There are many neighborhoods and communities to choose from, and chances are one of them is perfect for you. The team at Home Marketing Services knows the Dallas area better than anyone else. We can help you find homes in areas that have great schools, make it easy for you to get to work and have the amenities you want nearby.

Save Money by

Getting Your Landlord Out of Your Life

Ben Franklin once said, “In this world, nothing is certain except death and taxes.” He should’ve added rent increases to his list of life’s certainties. If you’re a renter, you certainly understand that your rent will never go anywhere but up.


Your mortgage doesn’t have to work that way. If you buy a home with a fixed-rate mortgage, your payment never has to change. You can refinance in the future if your financial situation changes, but you can also keep the exact same payment for the next 30 years. Many homebuyers are excited at not only the stability and predictability of regular mortgage payments but also the money they’ll save by locking in their monthly housing costs for decades.


Chances are your monthly mortgage will be less than your monthly rent payments–if not immediately then at least within the next few years.



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Make Your Home Your Own

If you’ve always rented, then you’ve never had a chance to truly make your home your own. Renters generally can’t repaint, change landscaping or remodel. If your landlord does let you repaint the interior of your rented apartment or home, they likely require you to restore it to what it was before when you move out, which can be a huge hassle. Most renters generally just accept that they have no control over those things and live with it.


And why would you invest in your landlord's property? You’ll never get any return on that investment–you would just be putting more money in your landlord’s pocket.


When you buy a home, you have the freedom to do whatever you want with it. Get as many pets as you want, paint your walls however you want, change your home’s layout, remodel the bathrooms, add a pool–what you do with the home you own is entirely up to you.


Best of all, smart home improvements can increase the value of your property and help you rapidly build equity in your home. 


Invest in You and Your Own Family With Equity

Is there a difference between lighting dollars on fire and paying them to a landlord? The result is fundamentally the same. The dollars you give to your landlord are lost to you forever. You can’t build equity when you rent since you don’t own the apartment or home you’re inhabiting.


You will build equity in any home you buy.


Think of your home like a long-term savings account. You’ll get every dollar you put into your mortgage principal back when you eventually sell your home years in the future. There’s no getting back the money you pay to a landlord.

Houses Are a Hedge Against Inflation

Inflation isn’t just a boogeyman that economists use to frighten people–it’s really happening. You can see it each time you go to the gas station or grocery store. Home values increase with inflation, which makes it an exceptionally good hedge against inflation for average people. Your mortgage payments will always be based on what you paid for your home when you bought it, so your monthly payments will never increase as the value of your home increases.

Potential Tax Savings

Depending on how you file your taxes, you might qualify for significant mortgage interest tax deductions. That means the payments you make towards your mortgage interests could be directly deducted from your yearly income tax bill.

Build or Repair Your Credit

Making your monthly mortgage payments is one of the best ways to improve your credit. Credit agencies and lenders will see that you’re making your monthly payments on time and in full and reward you with a better rating.



Once your credit rating improves, you can eventually refinance your mortgage to get an even better rate and a more advantageous term. Improving your credit by responsibly paying your home loan can also help you qualify for better rates on things like car loans, credit cards, student loans or home equity lines of credit.

Move Up in the World

Your first home purchase might be a starter home, but it can position you to afford much bigger and better properties in the future. Maybe you can only afford a $250,000 home today, but in 20 years when you sell, your starter home might be worth $400,000. That means you can move on to bigger and better homes in the future and be able to afford much larger down payments.


Plus, you’ll likely be able to qualify for larger loans with better interest rates and terms after responsibly paying your first home loan for so many years.



Stop Lining Your Landlord’s Pockets

OWN Your Own Home

CALL US
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