Why You Should Become A Homeowner And How To Get Started


Have you considered purchasing a home, but just can’t see why it’s worth the effort of making it all work? Or maybe you don’t think there’s any way you could get approved for a home loan? Think again! There are so many reasons why you should consider talking to a REALTOR® about becoming a homeowner. Read on to find out why you should!

  • 86 percent of current renters want to own a home in the future.  
  • Homeowners bring stability to neighborhoods. Homeowners move far less frequently than non-owners, and hence are embedded into the same neighborhood and community for a longer period.  
  • The average child of homeowners is significantly more likely to achieve a higher level of education and, thereby, a higher level of earnings.  
  • While both homeowners and non-owners may aspire to be engaged parents, homeowners likely live in neighborhoods with more opportunities for school involvement or participation in neighborhood activities 
  • Homeowners report better physical and psychological health than the average non-owner.  
  • Homeowners are far less likely to become crime victims than non-owners.  
  • Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.

Source: National Association of REALTORS®

  • The median net worth of homeowners increased 15 percent between 2013 and 2016, whereas that of renters or other non-homeowners fell 5 percent 
  • The average homeowner’s net worth is 44 times that of the average renter.

Source: The Federal Reserve

  • Homeownership is seen as providing more stability and control over one’s living environment.   
  • Homeowners are thought to be more secure than non-owners since they were not subject to landlords raising the rent or not renewing the lease.   
  • Fixed-rate mortgages may decrease housing costs over time relative to inflation.  

Source: Joint Center for Housing Studies at Harvard University

  • Purchasing a home can improve your credit score through consistent mortgage payments.
  • Additionally, credit bureaus give more weight to mortgage payment history than to credit cards or other more temporary accounts.   
  • Rental payments may not be reported, so mortgage payments give you an extra account on your credit report.  

Source: TheMortgageReports.com

But I Can’t Afford To Buy A Home…..

Have you made it this far, but find yourself saying, “I just can’t afford it?” Don’t give up now! The most intimidating part of buying a new home for most people is the thought of coming up with a down payment. Fortunately, there are many programs that offer alternatives to a conventional loan and the down payment that comes with it. Most of St. Tammany Parish and many of its surrounding areas qualify for USDA loans (also known as RD or Rural Development), which require no down payment. There are several other types that may fit your needs as well, that have low or no down payment options.

But I Don’t Have Good Enough Credit….

Then why are you waiting? The time to talk to a lender is definitely NOW! Do you want to purchase your own home but it feels impossible because you know you don’t have great credit or much credit history (hellooooo rent history that doesn’t report to credit agencies!) It can be frustrating that you’ve been paying rent for years with nothing to show for it. It’s not often that you find a landlord who reports to credit agencies.

Not everyone realizes it, but the best time to go shopping for a mortgage lender isn’t necessarily when you have found your dream home, have all your finances in order, and life is perfect. Sure, that’s great timing for the small percentage of people out there who actually have that happen, but what about everyone else? You don’t have to wait! Some of our favorite business partners are great at checking out your situation personally and offering advice about the most helpful ways to improve your credit so that you can buy a home.

But It’s So Overwhelming and I Don’t Know Where To Start….

Great news! You’re in the right place! A licensed REALTOR® is the perfect person to guide you through the home buying process from start to finish. It can be overwhelming and a lot of paperwork to navigate on your own. When you choose to work with The Mixon Team, you’ll work with a buyer specialist that is familiar with the process. Not sure how to choose a lender? We can recommend one that will fit your needs. Never even heard of a title company? We have a great relationship with one! Buying a home is such big step that you only do it a few times in your life. Our agents help clients purchase homes every day. And we LOVE it! What could be better?

Finding your dream home, that’s what! If you’re ready to take a look at what’s on the market right now in St. Tammany Parish, head over here or give us a call at 985-277-1063 to have one of our agents help you get started.

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