Landowner vs Renter - Why owning land helps grow your family
Owning your own land is a goal most people dream about. For the growing family, space to build, the recreational farm, or a weekend getaway is not only a dream but a benefit. Nothing is quite like owning the land you live on and experiencing the pride of standing on your own property and knowing all you see is yours to do with as you please. Land ownership provides many benefits such as a sense of stability, belonging to a community, pride of ownership, and provides a more permanent place to raise children.
A growing family can outgrow an apartment or rented home quickly. While renting may be more flexible, buying your own property has the bigger potential long-term payoff, with tax advantages and quality-of-life benefits. Owning land is a financial commitment that requires you to plan ahead and reflect on where your life is headed. When you own your land, you enroll in a forced savings plan. Every month, you make sure you have the money to meet your monthly payment and pay down the mortgage to increase your equity. Over a lifetime, property ownership helps build wealth and give more security to your growing family’s future. Plus, rent hikes often occur and are out of your control. Buying property with a fixed or pre-established rate, your payment will be predictable for the life of your agreement. Renters can also face an unexpected eviction notice if the landlord decides to sell the home, rent to someone else, or otherwise end the lease. In the end, the decision to rent or to own is not just financial, it’s also emotional.
Trading in your rental for your own land means you can build a home, recreation, or lifestyle that fits your family’s current situation, and have the ability to keep making any changes to fit your growing and future needs. Imagine your kids playing and enjoying a beautiful new backyard or open plot of land. Is this what you imagine for your future? The first step is purchasing land!
Talk to your family about what you want in your future land purchase. Thinking ahead will help give you a better picture of what to expect and what you want in years to come. What kind of lifestyle do you want to grow into? Do you want to occasionally enjoy the quiet solitude of the country, grow your own crops as a hobby and share the experience with your kids, learning the value of hard work and the benefits of owning nice rural land? Or do you want to live on property either full or part time and expect to have some of the usual amenities within a reasonable drive from your property? Have you always wanted to experience living off the grid and get away from it all? Your own land can become a great place to escape on weekends or vacations and recreation for family and friends, and even a place to share with children and grandchildren. Buying land can be a great investment financially, in quality of life, and peace of mind.
If you’re ready to live your dream and own your own land, contact Hurdle Land & Realty and let us help you invest in the future of your family!