If you’ve been eyeing new homes for sale in Houston you may be wondering if buying is really better than renting. Renting does make sense if you don’t plan to stay in the area for more than a year or two, but if Houston is your home base for the foreseeable future there are a number of benefits that support buying.
Here are three key reasons that many people choose to buy a home in Houston, TX instead of renting.
Easier Investment Strategy
During the Recession investments of all kinds took a hit. However, in stable real estate markets like Houston there was much less impact. Houston real estate has steadily appreciated, which makes buying a home a somewhat safer and easier investment that takes less effort to manage than stocks and other assets.
You’ll Get the Amenities You Want
When you rent you’re stuck with the amenities that are there when you sign a lease. It’s rare for a landlord to make an upgrade or addition simply because the renter requests it. When you own a home you’re in control, and you’ll be able to recoup some of the cost of investing in amenities. Houston home builders can also customize new houses so that they have everything you need right when you move in.
Your House Payments Won’t Increase Each Year
In Houston rent is increasing by roughly 6% a year. With a fixed rate mortgage your Houston home will cost the same every month. A home in Houston is also still considered to be a good value compared to other metros across the country. According to Zillow renting in Houston is 31.2% more expensive since the Recession, whereas owning a home is 20.7% cheaper.