I grew up in the UK, just outside of London, I know I never thought I would not own a home. It just seemed the obvious thing. Even when I left home and rented an apartment it was my brother's who had moved to the States, so I was helping him out by renting, so he could pay the mortgage.
As the saying goes, you are either paying your mortgage or the landlords. It costs money to live in an apartment or a house, and we need to understand that, owning a home is a long term way to build wealth,but sometimes if you sell quickly you may have to make a payment at the settlement table as well if the value has not grown enough to cover the costs of selling.
As soon as I got engaged I looked for a home to buy, it was small, a row house initially outside of London, after having a baby we realized we needed to move to something a little larger, values had risen and we were able to buy something larger, a semi-detached/twin. Again as out family grew so did the size of our houses. Homes in the UK are very solid, something different to the US. Most homes are brick built construction, solid with tile roofs, long lasting and walls inside are generally plastered and solid. I know from when I used to try and hang pictures. But also British homes are generally small because we are a small island and a lot of people who have to fit in, and you pay substantially for privacy and space.
When we came to America we noticed construction was very different, things were much more spacious, and homes were not as solid or long lasting. But they offered a lot of the same things, a place to call home, a place of safety, a place you could do with as you wanted, a place to celebrate life and family together.
Now, some of those things you can do when renting as well, but they are often easier when you own a home as you don't have to ask permission to paint or get agreement on what color to use.
But, I also understand their are life moments when it is easier to rent than own, but I have and always will look forward to owning my own home and celebrate reaching the moment when it is truly mine, free and clear of any and all mortgages.
So, if you are thinking to rent or buy on the Main Line give me a call and let's discuss what is best for you at this moment of life and help you be confident in the decision you make. Home ownership might be right for you!
If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you, contact us or connect
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