We Build Homes

Unleash Your Home's True Potential

Easier mortgage processes, positive attitudes inspire renters to buy

Transform Your Home With Us

Transform your home into a personalized haven with our expert home remodeling services tailored to your unique style and needs



Thirty-two percent of American households are renters, according to the National Multi Housing Council. Generally, more people younger than 30 occupy rentals, while the percentage of people who own their home increases with age, NMHC statistics indicate. People decide to buy a home for many reasons, but the recent real estate market downturn caused many Americans to rethink their assumptions about renting and owning.

Even with many real estate experts predicting the market will continue to improve, it pays to carefully evaluate how home ownership does – or doesn’t – figure into your long-term financial goals. If you’ve been renting and wondering if it’s time to apply for a mortgage and buy your own home, consider these points:

1. Renting isn’t always the cheaper option, and comparing your monthly rent payment directly to a mortgage payment won’t give you a clear picture of the financial impact of either option. Online calculators, like Guaranteed Rate’s rent vs. buy online calculator, can give you a better understanding of the comparison. With mortgage rates consistently low and rental markets competitive across the country, real estate experts agree that in most major metropolitan areas it will still be cheaper in the long run to buy than continue to rent.

2. While the days of zero-money-down mortgages are essentially over, it’s a misconception that you need a huge amount of money to buy a house. Yes, you’ll almost certainly need a down payment, but different lenders will require different percentages. Research your mortgage options before you begin house hunting so you’ll know how much you’ll need to save in order to secure a mortgage – and the home of your dreams.

3. Although the mortgage application process is detailed, it doesn’t have to be drawn out and tedious. Many lenders now allow you to initiate the process online, and Guaranteed Rate has recently overhauled its website to allow borrowers to apply for a loan, track the approval process and receive their home loans all online. The eighth-largest retail mortgage company in the U.S. allows customers to choose and customize their loans, submit an application and receive an official approval letter all at www.guaranteedrate.com. Automating the application process compresses the traditional time frame from days – sometimes, even weeks – into minutes. As part of the process, applicants also receive the credit reports from all three major credit bureaus.

4. Buying a home affords you the opportunity to really grow your roots, but the flipside is that in order to get the most out of your investment, you need to stay put for a while. If you anticipate being in your current job and living in your current town for at least five years, the long-term investment of buying a house will make more sense for you. If you anticipate a job change or a move within a few years, you may want to hold off on buying a house. The good news is, doing so gives you more time to save toward a down payment so you’ll look even more appealing to lenders when you are ready to buy.

While only you can decide if homeownership is right for you and your family – and if now is the right time to buy – keep in mind a few statistics from Trulia.com: 42 percent of renters say they regret not having bought a home, and 31 percent say they want to buy a home in the next two years.

Subscribe to our newsletter

Work with us

Experience excellence in home construction and remodeling with Playa Builder

Our team of experts will transform your vision into reality, delivering exceptional craftsmanship and personalized service.
Trust us to build your dream home in Playa del Carmen, creating a space that reflects your style and exceeds your expectations.

Elevate Your Home, Inspire Your Style

Explore More Blogs

Discover endless inspiration for your home design, decor, and lifestyle through our insightful and creative blog posts.

Don't miss out on our latest home renovation tips and trends

subscribe to our newsletter today!

CONTACT US

English spoken

US: +1 303 317 6639

MX: +52 1 984 803 5014

Send us an email:

Interior Design for Luxury Homes

Ready to explore the world of sophisticated interior design in luxury homes? Download our exclusive infographic now to discover the key elements that elevate the aesthetic appeal of luxury residences in Playa del Carmen.