When deciding between buying a new home and renting, many factors come into play. You may have financial questions about buying a home such as, “Is now a good time to buy?” and “Will buying or renting be more affordable?” You may also wonder if you’re financially prepared for the costs associated with purchasing a new home or if you have enough money for the down payment. You’re not alone.

In fact, a recent Federal Reserve Report on Household Economic Well-Being found that although 81 percent of renters would prefer to buy, 50 percent of renters believe that they don’t have enough money for a down payment. However, it’s a common misconception that a large down payment is needed to purchase a new home.

At Benchmark Homes we don’t want anything holding you back from owning the home of your dreams. We’ve worked with our preferred lenders to find finance options that allow home buyers just like you to purchase a new home with just $500 down. Plus, with a variety of home plans designed for your life and priced from the $130,000s , we make finding and purchasing your perfect new home in Mobile and Baldwin County easier and more affordable than you ever thought it could be.
Speaking of ease, other findings of the report focus on the emotion and optimism of those surveyed. 74 percent of homeowners reported “living comfortably” or “doing okay”, signifying positive feelings about their lifestyle and economic well being, while just 48 percent of renters reported the same positive outlook. Only 12% of those surveyed preferred renting, with the remainder stating other motivations for renting such as the above mentioned worries about down payment.
All said and done, 67 percent of homeowners prefer owning a home for the financial benefits, and 83 percent also cited at least one emotional or lifestyle reason they prefer owning their own home, such as the ability to customize their residence, fewer rules, or simply the preference and stability of owning one’s own abode.
Now that you know you don’t need to worry about saving for a down payment and can own the home of your dreams with just $500 down, are you ready to learn more and take the first step towards homeownership?

Benchmark builds quality, stylish and affordable new homes in highly sought-after communities throughout Mobile and Baldwin County. When you build with Benchmark Homes, your new home is not just priced for your budget, but designed for your life with desirable features including open living areas, built-in storage solutions, walk-in closets and master bathrooms with separate bathtubs and showers. Plus, you get to personalize your new home to your personal style, needs and budget with hundreds of options available at our Personal Selection Studio.
Stop renting and start investing in your future today with a new home from Benchmark Homes! To learn more visit the Benchmark Homes website or give us a call at 251-473-8600.