Benefits of Home Ownership
There are many advantages to buying a new condominium home or townhome versus renting or buying a used home. Besides the fact that everything is brand new, when you purchase a new home, you’ll enjoy numerous benefits, including:
- Building a community together: When people move into a new community together, lasting bonds of friendship are formed and nobody is the “new kid on the block.”
- Quality workmanship: The building code is constantly being updated, which means a new home will typically have better quality construction than homes built in prior years.
- Less maintenance: New homebuilders use the latest materials and the homes are engineered to minimize maintenance requirements.
- Safety: New homes will often include fire and other safety features that may not be present in older homes.
- Tax Benefits: Homeowners can take advantage of tax savings including deductions for mortgage interest and real estate taxes.
There are many other advantages to owning your very own home. Click on the article headlines below to learn more:
Read More About Benefits of Home Ownership
- Advantages of Homeownership – National Foundation for Credit Counseling®
“When you buy a house, your monthly mortgage payments serve as a type of scheduled savings plan.”
- The Non-Financial Benefits of Home Ownership – Real Estate Today
“You’re buying a spot in a neighborhood, surrounded by people who are all working together for the greater good”
- Harvard: Why Owning a Home Makes Sense Financially – Keeping Current Matters
“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”
- Why Buying a Home Is a Smart Investment for Millennials – U.S. News & World Report
“Your new home can be a bit of a mystery to you until you take the time to get to know it.”
- Four Not-So-Obvious Things to Consider When Deciding to Buy or Rent – NY Times
"Whether to buy or rent a home is among the biggest financial decisions most of us make."
Financing Your New Home
A pre-requisite for purchasing a condominium home in the first neighborhood of Residential Workforce Housing (also known as affordable housing) at Kamalani is completing the Homebuyer Education Course. This course will help you determine your financial status and whether or not purchasing a home at Kamalani is right for you.
Of course, you may also want to do some of your own research and familiarize yourself on the financial process of buying a home. Here are links to information that may be of help:
Read More About Financing Your New Home
- Advice on Financing Your First Home – National Association of Home Builders
“Figure out what you can actually afford to pay on a monthly basis.”
- Glossary of Mortgage Terms – Mortgage Calculator
Your Free Guide to Understanding Housing Industry Lingo
- 4 Misconceptions Buyers Have About Down Payments – HousingWire
“Like everything in real estate, down payments aren’t one-size-fits-all.”
Planning Your Move
Moving can be exciting if it’s done right. Here are proven ways to minimize stress, confusion, and expenses when moving into a new home. Take a look at the articles below for tips on making your move go as smoothly as possible.
Read More About Planning Your Move
- 9 Smart Things To Do Before You Move – Good Housekeeping
“Visualize life in your new home.”
- Moving Packing Tips – Nine tips to make sure your valuables come out of their boxes in good shape – Real Simple
“Nine tips to make sure your valuables come out of their boxes in good shape.”
- 21 Tips For An Easy Move – Style at Home
“Figure out your move strategy”
- 10 Tips for Moving Into Your New Home – NewHomeSource