Sherzer Insurance Blog
Every millennials’ dream is to buy a tailor-fit, affordable house that will cater to his/her needs and help establish social standing, independence, and acceptance within the community. Climbing to a property ladder on top of his/her colleagues is a significant achievement. A rent-to-own house realizes that dream, an investment that is suitable for a millennial like you. Let Sherzer Insurance enumerate the advantages of being a young homeowner:
‘Own’ Your Own Home
There are many perks for owning your home at an early age. It provides financial freedom and creativity to customize the house according to your preferences, whether it is a rent-to-own, refurbished, or own house. Home renovations and refurbishment add appeal to the house and increases its possible market value.
Owning a home asserts social standing and acceptance within the community, as owning a property like a house is equated with productivity and prosperity. A young millennial gains admiration and respect even from older people because of this achievement.
Pay Your Debts
For starters, renting a property has its advantages. It does not oblige you to stay in one area, providing the freedom to change residence anytime, anywhere in times of financial crisis. Repairs and leaks in a rented property are still within the landlord’s liability. Yet, the disadvantage of renting a house is that the tenants shoulder mortgage expenses. Therefore, you are encouraged to finish investing in the property as soon as possible to complete mortgage expenses and focus on other essential home expenses.
Provide Another Source of Income
While waiting for a rent-to-own house to be paid in full, offering a spare bedroom for rent to others is a good investment. Rent fees obtained from the room rent may assist in the payment of mortgage expenses or renovation works needed for the property. It is highly encouraged to purchase a property that can rent well soon. You can consult with a local real estate agent to know the location of such property.
Reinvest for More Income
Completing your house and property payment early will give you a higher chance to earn savings that can be used for home renovation, maintenance, and another home investment in the future. You can always choose a small unit with minimal supervision or property with a significant deposit according to your preference.
A homeowner who started owning a home young tends to obtain better properties, earn in different ways, and be respected in their community. Be on top of your game and get your home insurance now at Sherzer Insurance Agency!
At Sherzer Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (239) 673-9301 or Click Here to request a free quote.