Owning a home is still a large part of the American dream, according to a new study of homebuyers and current homeowners, and in fact, many can admit to wanting to buy a house in the Columbus area in the near future.

The top reasons for starting the search for homes for sale in metro Columbus, OH include:

Pride in Owning
Most people buy homes to have control over where they live.  Although tax and investment features are important, the psychological reasons for buying — the satisfaction of owning and freedom from paying rent—are just as important.
 
Dislike Paying Rent
People intrinsically dislike paying rent. Renting offers you no equity, no tax benefit, and no protection against regular rent increases. Writing a rent check is just like watching your hard earned money sail away!
 

Wanting a good place to raise a family
Many take to metro Columbus area real estate in the hopes of finding a great neighborhood, great home features, and great educational opportunities for their children. According to a new study by Harvard University, homebuyers feel confident in buying real estate in the near future for the purpose of finding a safe location for their family to live.

Wanting more living space
Homebuyers are moving up! It hasn’t always been the case in the past, but more people looking for new homes are wanting more space than they currently have.

Wanting control of the living space
This comes along with making the leap from renting to owning a home— more Americans are wanting control of their own homes, without the say-so of a landlord or other authority. The decision to buy a home in metro Columbus often comes from the desire to take control of one’s home and really make it one’s own.

Realizing that owning is a better financial investment than renting
With rising mortgage and housing prices, the question has come up often. But the answer is still yes, owning a home and switching from renting to owning is still a better investment. The homeowners surveyed in Harvard’s new study agree— they would prefer to own than rent and plan to make the purchase in the near future.

Tax Advantages
Property taxes and qualified home interest are deductible on Schedule A, for itemized deductions effectively reducing the true cost of ownership.  Both mortgage interest and property taxes are tax deductible.
 
Long-term Appreciation
People consider home ownership a good investment because they view it as a long-term venture — as long as they do not overpay!  Historically home prices have risen at relatively steady rates up to 2005. Once the market correction is over (and Central Ohio gets more jobs!) a slower rate of appreciation will result.
 
Leverage Investment
People usually borrow 80 to 96.5% of the purchase price to buy a home, yet they receive the full benefits of price appreciation when it occurs. Historically investments in homes outpace inflation.
 
Source of Savings
Despite the recent 6 years home ownership always has and continues to comprise the single largest source of savings for many American households and the Columbus, OH marketplace is starting to firm up.
 

If you are considering buying real estate in the Columbus metro area, it might be time for you to consider the great options during the Fall and Wintertime to buy. Let your Exclusive Buyer’s Broker help you make the process less daunting. Contact us today to chat about your options and plans for buying a house in metro Columbus, OH— we’re with you every step of the way… all the way home!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

www.BuyersHome.com 
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