3 reasons to buy vs. rent a home in 2015


by Administrator Posted in For buyers /   January 6, 2015

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The long-awaited dream of owning your own home entails one of the most important purchases of your life. Is it any wonder it could also be the most exciting? Moving from renting to homeownership brings a range of benefits, from a sense of community and stability to never having to worry about yearly rental increases. But there’s more. We explore three advantages that tend to sway long-time renters into becoming happy homeowners.

1. Live life on your own terms: As a homeowner, you can delight in the freedom to paint the walls, wallpaper a bedroom and landscape as you’d like, knowing that a landlord won’t be calling in to express his objection to the improvements. The walls and grounds are yours to enjoy. What’s more, you can choose to own pets, hire your own contractors and move to a new home according to your timeframe—not that of the lease.

Note! Communities with HOAs or covenants may have guidelines for exterior home improvements. Be sure to check the rules before you start a project (especially when it comes to exterior paint)!

2. Possible tax advantages: When you own a home, you may be able to deduct a portion of mortgage interest and property taxes from your federal and state income taxes. It’s possible that this could result in significant savings, especially in the first few years of the mortgage loan when interest makes up the majority of the payment. Consult a tax advisor regarding your particular situation. As a renter, on the other hand, you would not likely be eligible for any type of benefit.

3. Potential to build equity: If your home increases in value over time, you’ll have the opportunity to build equity, allowing you the potential flexibility to take out a second loan for home improvements, tuition, emergency expenses and more. Unfortunately, renting will only put money in the pocket of your landlord.

Certainly, this list is just a start. You probably have even more reasons to buy that are important to you. If your personal 2015 goals include more privacy and fewer household moves, owning a home will most likely be a positive experience. Long-time renters may find it advantageous to make a list of all the pros and cons of both owning and renting, weighing the elements that are the most important at this point in life. If the pros win out, you can look forward to hunting for your perfect home and enjoying all the benefits of living life as you’ve always imagined.

Our First-time Homebuyer Guide is a great resource. Download your copy today!

Ready to transition from a rental to your own home? Get started today at RichmondAmerican.com.

Getting organized for 2015


by Julia Miller Posted in Homeowner resources /   December 26, 2014

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January is the time to get organized! From taking down holiday decorations, to beginning new year's resolutions, there's never a better time to start fresh. Ready to try a new strategy for corralling the clutter and staying on task? Check out these exciting products.

Front door shoe organization
Tired of tripping on shoes at the front door? IKEA has you covered. Their sleek, low profile shoe cabinets will keep everything from flats to sneakers in check. Done and done!

Get organized for 2015: Birch Trail Office

The ultimate to-do list
If you love to-do lists, you'll love Remember the Milk. Available free for iPhone, iPad and Android, this app helps you organize your to-do list items by day. You can postpone tasks, mark them complete and tag them to put them in specific categories. You can even set notifications to remind you to complete tasks. This handy app is also available as a gadget for Google Calendar.

A pretty pantry
Your pantry doesn't have to be a mess. Keep everything organized with the help of The Container Store®. These glass canisters with oak lids are beautiful, durable and will keep your dry goods safe from pests. If you want something more colorful, check out these Orla Kiely tins, perfect for everything from snacks to craft supplies.

inkWELL Press planners
Think paper planners are a thing of the past? Think again! For those who just can't get used to keeping all their appointments and reminders in a digital format, inkWELL Press has a colorful, yet elegant option. New for 2015, their liveWELL planners offer monthly and weekly spreads, as well as helpful sections for goals, travel, gift giving and more.

These are just a few items to help you get organized for the coming year. Be sure to keep an eye on our blog for more great organizing ideas.

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