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Making the leap from renting to owning is a big decision and you may be wondering how you’ll know if you’re ready. Luckily we have 7 signs to help you recognize when it’s time to take that step. How many do you check off?
1. Your family is expanding.
If you’re expecting a new baby or your kids are growing out of your current home, you may be thinking about moving into a bigger space. Or maybe you’re becoming a multi-generational home with parents moving in. Either way, this is the perfect time to consider options other than renting. Starlight has home plans that have 3-5 bedrooms, offering you plenty of space for your family to grow.
2. You’ve memorized your neighbor or roommate’s daily routine.
You can hear their TV shows and smell their dinner cooking through your thin apartment walls. They say “Bless you” when you sneeze. And you know exactly when they wake up for work, get home in the evening, and when they have friends over. Apartment living is…cozy. But when you want some space to breathe, nothing beats your own home. And with landscaped yards separating you from your neighbors, you can keep a bit of mystery in those relationships.
3. Rent keeps going up.
Every year it’s the same: the lease is up and so is your rent. Depending on where you live, your rent could increase anywhere from 3% to 25% or more each year. Meaning what was once affordable could become out of reach in a few years. But with many mortgages, you’ll pay the same amount per month, year after year.
4. Your closet is a death trap.
If you’ve ever opened a cabinet only to be hit by an avalanche of falling containers, you know what a difference storage can make. If kid’s toys are always underfoot even after tidying up. If you park your car in the driveway because the garage is full (or there is no garage), it might just be time to step up to a house of your own.
5. You’re ready to leave your mark
Have you found yourself browsing Pinterest, drawn to images of bright painted walls or family photos all hung in a row? Do you pass Home Depot and imagine the garden you would plant if you only had the space? When you’re ready to put down roots and create a home that truly reflects your personality, a rental just won’t cut it anymore.
6. You crave stability
It can be exhausting moving from rental to rental each time your lease is up. And if you have school-age kids, it’s stressful to think about moving them to a new school if you can’t find a new rental in the same district. When you own your home, it’s yours for the long haul. You can feel secure knowing your kids will grow up going to the same school and playing in the same neighborhood. You can build family traditions and plan for the future with one less variable to worry about.
7. You know the score
One of the most important signs you’re ready to stop leasing and start owning is when you have a good perspective on your financial situation. You know your credit score and have a steady source of income. Everything doesn’t have to be perfect, but knowing where you are is the first step on your homebuying journey.
Did you find yourself nodding along with these 7 signs? Are feeling excited and thinking maybe it might be time to think about making the leap? When you’re ready to explore home ownership, set up an appointment with our sales consultants and let Starlight guide you to a home of your very own.