The Five Best Reasons for Millennials to Buy a Home (Instead of Just Renting)

Information may not be reliable

It’s becoming a bigger trend with each passing year—young 20- and 30-something professionals in the Sacramento area are deciding not to buy homes, choosing to rent a home or apartment instead. They cite reasons like practicality and ease of living, but we disagree. Instead, we believe buying a home remains a smart option for many millennials. Why, you ask?

1) You pay rent anyway—why NOT pay a mortgage?

If you live in a decent to high-end apartment or rental unit, you’re likely paying just as much in rent as you would pay with a mortgage. So why throw away all that money each month? Instead, you could be building up equity, improving your credit and cultivating a valuable asset.

2) You like to paint and decorate your space the way you like it.

Most likely, your landlord doesn’t allow you to paint anything inside your apartment—some even restrict the number of nails you can put in each wall. So you’re stuck with your landlord’s choice of paint colors, and your decorating plans remain stifled by your landlord’s final say. That’s no way to live!

3) Landlords and pets don’t mix.

The majority of landlords won’t allow pets in their rental units. Even if they do, there’s typically an extra charge—not to mention the trouble you’ll be in if your pet accidentally damages anything on the property.

4) You enjoy your freedom.

That’s right. Buying a home gives you more freedom. If and when you move and sell your home, the equity you’ve gained will move with you, making it easier to find a new place in your new city.

Plus, when you own your home, you always have another option: making it a rental and adding to your monthly income!

5) You have your pride.

Despite the popular shift toward renting instead of buying (not just in Sacramento but nationwide), homeowners everywhere still have a sense of pride that just doesn’t come with renting. As Thomas Jefferson put it, “The small landholders are the most precious part of a state."

So what’s holding you back? It never hurts to look at what’s available or find out how buying a home would benefit you. If you’ve been searching for a realtor in Sacramento, CA, Eagle Realty would love to answer your questions or help you take the next step in buying a home.

About the Author:

This article is written by Eagle Realty. Owner/broker Shaun Alstonis a member of the Masters Club, which means he is in the top 10% in Real Estate Sales in the state of California.