Why Right Now is The Best Time for Millennials to Become Homeowners
It seems as if every day, a new article comes out about millennials ruining the economy due to the way they spend their money. Most of these articles are written with a snide perspective that doesn’t encapsulate the struggles of the millennial generation. Just the other day, an article came out about how millennials are destroying the cheese market and a few days before that, there was one about the tire industry going downhill all thanks to millennials. All of this animosity against those born from 1981 through 1996 is somewhat unfounded. The job market is as scarce as ever and the cost of living is at an all-time high. As morose as this may appear on the surface, millennials can still invest in the economy and in their own futures by becoming homeowners.
No More Apartment Living: Make The Move to A Home, Today!
There’s an allure to apartment living; you make monthly payments, you have a six or 12-month lease, and you just relax as you work and live your life. Although apartments do have a handful of positive attributes (such as maintenance), you aren’t investing in your future when you make your monthly rent payments. Homeownership may seem daunting to many, especially to those who may not be as well-off financially as they’d like to be. But, in reality, home ownership is as easy as renting an apartment (if you’re smart about it).
When it comes to owning a home, the initial hurdle comes down to the down payment. If you dedicate yourself and focus on saving aggressively, you’ll have enough put away for a down payment. Once that’s taken care of, you’ll only have to worry about your monthly mortgage payment
Invest In Your Future
Paying your mortgage is far more beneficial than paying rent on an apartment you don’t own. For starters, mortgage payments tend to be manageable and often may be the same amount as your rent so you won’t have to change your lifestyle or find a second job to make the payments. Second, that money is going into your home. When you pay rent, the money goes to the landlord and you’ll never see the money again. As a homeowner, you’ll eventually pay off your mortgage and you’ll be able to do as you wish your your property. You could sell it, rent it out, or simply live there for years and years. New homes from Culler Homes are all designed to be both beautiful and resilient. If you’re in the El Paso area and you’re ready to make the move, give us a call!
