In today’s economy and real estate landscape, Austinites may be feeling disheartened at the feasibility of buying a house. Aaron Boenig, the founder and co-president of Brohn Homes, dispels five common myths about home buying, shedding light on the reality that a dream home in the Austin area may be more attainable than prospective buyers think.
Myth #1: Renting is cheaper than buying
One of the most common misconceptions is that renting is always cheaper than owning, and that’s not necessarily the case, Boenig said.
“In some cases, renting may have lower costs up front. Over time, owning a home is generally more cost effective,” Boenig said. “When you rent, you’re not gaining equity in your home. You’re instead putting your hard earned money in somebody else’s pocket rather than your own.”
The reason gaining equity is so important? Building home equity serves as a foundation to gain generational wealth.
“Not only are you gaining equity through the principal reduction to your payments, you’re also gaining equity through the appreciation,” Boenig said.
Additionally, homeownership provides tax benefits that many renters don’t consider. Perks like deductions for mortgage, interest and property taxes make homeownership financially advantageous.
Myth #2: Buyers need a large sum of money to purchase a home
Although a larger down payment will help buyers get a lower monthly payment or better terms, Boenig said it’s not always necessary.
“We offer low or no down payment programs and really help make homeownership accessible for those first-time home buyers,” Boenig said.
Many Brohn Homes communities offer U.S. Department of Agriculture loans, which are home loan programs that require no down payment. Brohn Homes also has loan officers in many of their model homes each weekend who will meet with potential buyers to tailor programs to their unique situations.
“We understand that not everybody has a substantial down payment saved up, and that’s why we want to work with buyers to help them find those financial solutions that fit their needs,” Boenig said.
Myth #3: Homeowner maintenance is overwhelming
It’s true that homeowners are responsible for repairs and upkeep of their homes. However, Boenig said homes built by Brohn Homes are designed to keep home maintenance at a minimum.
“At Brohn, we take pride in building high quality homes that reduce the need for frequent maintenance,” Boenig said. “All of our homes are backed by an industry-leading warranty program, and it allows our customers assurance that any covered warranty items will be addressed by an in-house customer care representative during that warranty period.”
Myth #4: Buyers need perfect credit to buy a home
Someone with poor credit may think they are not in a good financial position to buy a home or that they are not eligible for any home loan programs—which Boenig said is completely false.
“You can get a loan with less than stellar credit,” Boenig said. “Many lenders offer a vast range of loan programs that are tailored to different credit profiles and different buyer needs. Even if your history is less than perfect, there are many options available.”
Myth #5: It’s not the right time to buy a home
Weighing external factors when buying a home is important. Buyers may want to consider the state of the economy, geopolitical issues, fluctuating interest rates and more—but waiting for the perfect time can also lead to missed opportunities.
“The truth is, only you can decide if it’s the right time for you to buy a home,” Boenig said. “We believe it’s always a good time to buy a home and invest in your future.”
How to choose the right builder
Boenig said buyers should look for a builder with a people-first philosophy, great communication, a superior value proposition, ideal locations, diversity in offerings and high-quality homes and amenities, all of which are typically demonstrated by high social media reviews and ratings. With over 20 years of homebuilding expertise, Brohn Homes promises this and more.
Here’s a closer look at what sets Brohn Homes apart:
- Living out its mission statement: The ethos of Brohn Homes is exemplified in just a few simple words, “We are in the people business and we build homes.” Boenig said truly being a people-first company means going above and beyond not only with customers, but also with team members, trade partners and the local community.
- Value proposition: Brohn Homes builds high quality, well-designed homes that are attainably priced and located in prime areas, offering a variety of plans designed to fit the lifestyles of its customers. Starting in 2024, all of its homes are ENERGY STAR rated, which translates to lower costs for buyers during homeownership.
- Ease of doing business: From contract to closing, Brohn Homes promises a seamless, transparent and rewarding customer experience. Boenig said buyers are provided the communication, support and expertise to truly understand and trust the homebuying process.
Find out more about Brohn Homes and begin browsing available homes today at www.brohnhomes.com. Interested parties can also fill out an inquiry form.
The above story was produced by Multi-Platform Journalist Morgan O’Neal with Community Impact's Storytelling team with information solely provided by the local business as part of their "sponsored content" purchase through our advertising team.
