What are the Pros and Cons of Purchasing a Home? – Oakland Berkeley East Bay Area

What are the Pros and Cons of Purchasing a Home 🏡🤷‍♀️

Thinking about buying a home and wondering what the pros and cons are of buying one? Whether you’ve never owned a home before or it’s been a while since you’ve purchased.

Let’s talk about the Pros and Cons. Hi, I’m Tanja Odzak and my team and I work with buyers in the Oakland / Berkeley East Bay Area. So because you’re thinking of buying a home in Oakland, Berkeley, or the East Bay, let’s review some of the Pros first.  

  1. Your wealth can increase as you build equity in your home. Research from experts and economists from the home value growth expectation survey forecast that we are going to continue to see an increase in home equity through 2024, averaging around 3%. If you look at this graph based on a $750,000 home after 4 years you’d have over $94,000 of appreciation based solely on increased home equity.
  2. You gain tax advantages. Mortgage interest is tax deductible as per IRS code, you can speak to your accountant for more specific information and numbers. This can be a significant tax savings when owning a home.
  3. Rents go up over time, while mortgages have been down.
  4. You can stabilize your payments. Monthly payments are relatively steady if your loan has a fixed interest rate, while your landlord can increase your rent even with a rent-controlled apartment.
  5. You’ll have a secure place for your family to live and grow. You can also decorate and expand your home in a way that you like to create your dream home.
  6. Gain a sense of community. Homeowners often are more involved in the well-being of their communities; many homeowners work together for better schools and less crime. 

Now, I have to be honest here, I could go on and on about the benefits, but let’s think about the Cons when purchasing a home in Oakland / Berkeley East Bay Area.

  1. You need to think about maintenance costs. It takes work and money to keep a home in good condition. It’s sorta like your car, if you don’t change the oil, the car can blow up.
  2. It can tie up your cash. Selling a house may not be possible during the first few years of ownership; moving is more difficult and complicated and you may not have as much flexibility in choosing a new job location.
  3. You home can fluctuate in value. There is no guarantee that your home will increase in value. In fact, it could decrease in value.
  4. Obligates your finances. When you buy a home, you are obligated to make that monthly payment no matter what, so it’s always a good idea to have a bit of a nest egg as a backup for a rainy day. 

So there you have it. But let’s be real, buying a home can seem scary.  

Call me or use the form below, this is Tanja Odzak, and let me guide you. We take out all the worries and pressure so that you can make informed decision.


I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit. 

Are you also planning to sell your home while on the quest to buy a new one? Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?



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