Decide to Buy

Purchasing real property, whether it is a single family home or a country estate, is probably one of the largest financial investments that you will ever make. If you are a first-time buyer or if you are upgrading to better meet your needs, the "buying decision" must be made wisely. Providence Properties can help you with that decision.

•  Why Do You Want To Buy?

Are you tired of paying rent? Have you outgrown your current home? Is your 'American Dream' a new home, a country estate or ranch? Would you like a larger kitchen or a bigger horse barn? Would you prefer to live in the "country" rather than the "city"? Do you want to shorten your commute or raise your kids in a country setting? Do you need to down-size or do you want to lower the amount you spend annually on property taxes? Having a clear sense of your reasons for buying will help you choose the right property.

•  Has Your Income Grown?

Owning country property, rental property or simply buying a single family home in Central & South Central Texas has historically been a very sound investment. As you pay down the principal of your loan, you are building equity in addition to any market appreciation on your property. An added advantage to home ownership is the interest that you pay on your mortgage loan will provide you significant income tax benefits.

•  Can You Afford To Buy?

Experts recommend spending between 33-40% of your income on housing. Buying recreational, investment or ranch property requires a different 'earnings-to-debt' ratio. The tax benefits of home ownership can provide a considerable advantage over renting.

Click here to work through our rent vs. buy calculator