Deciding whether to continue renting or purchase your first home can seem complicated. What if you decide to move to a different city in a few years and have to sell your home? How do you get approved for a loan? All these questions and more are sure to cross your mind.
Recently, Investopedia featured an article on homeownership and how buying is a smart investment. The article compares the cost of renting to buying and lists positive reasons for both. It concludes however, that currently interest rates are low and buying is 38% cheaper than renting. That statistic alone makes a strong argument to start the process of buying a home, but what about other factors like getting a loan? At Betenbough Homes, we work with a select group of mortgage lenders in West Texas that will help put you at ease and guide you through this process.
So what if you might be moving in the future? Our new homes are in desirable school districts, which makes selling or leasing out easier. You can choose to keep the home as an investment and rent it, or if you decide to sell, it’s good to know that last year around this same time the average Betenbough resale sold in 57 days in Lubbock. Given the current housing market in the Permian Basin, it’s safe to assume that average is lower in Midland and Odessa. But buying a brand new Betenbough home is an investment in more ways than one. When you purchase a new home you also gain privacy, tax savings, increase your net worth and build equity.
What are other reasons to invest in a new Betenbough home? We provide home buyers with many features other new home builders do not, while still maintaining a competitive price. Our Dare to Compare sheet highlights all these features such as, granite countertops, steel rebar for reinforcement in every one of our foundations, 5 1/4 baseboards, low-VOC paint and more.
We also offer our home buyers a one-year workmanship warranty, a two-year systems warranty and a 10-year structural warranty. Our home buyers have shorter construction time and lower cost because we utilize a streamlined method known as the Engineered Framing System. Each roof truss is checked and stamped by a licensed engineer, ensuring quality in the structure of your new home.