Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

Reasons To Buy Your Next Home In A Gated Community

by Luke Fields

If you're ready to start looking for a new home, you'll have several different types of communities to consider. You may want to give a gated community a close look, whether you have a growing family or you're looking for a retirement community. You can find gated community homes for sale in a wide range of prices, so it's easy to find something for your budget, whether you want to buy a luxury home or a condo. Here are some benefits of buying into a gated community.

You'll Have More Security

If you've lived with increasing crime, such as vandalism, car theft, or home intrusions in your current neighborhood, then you may be anxious to move to a safer location. Living in a gated community gives you more security, especially if the gate is at a guardhouse with a guard on duty 24 hours a day. Even if the gate is simply operated by a key card, the gate will still keep strangers out of your neighborhood, so the risk of crime is lower, and your family and property are safer.

There Will Be Less Traffic

A gated community keeps out people who don't belong in your neighborhood. A gate cuts down on people who might want to take a shortcut by speeding through your neighborhood streets on the way to work. The only people driving on the streets in a gated community are the people who live there and their guests. Since everyone who buys into a gated community has to follow the same rules, such as obeying traffic regulations and speed, then speeding cars and traffic dangers will be much less common compared to a typical non-gated neighborhood.

Strangers Won't Bother You As Often

Living in a gated community cuts down on the number of strangers knocking on your door who want to cut your grass, trim your trees, sell you new windows, get you to sign a petition, or buy cookies, candy, or popcorn from their kids. The only people knocking on your doors in a gated community will probably be people you're expecting or neighbors you know since unauthorized people can't get past the gates.

You'll Enjoy the Benefits of an HOA Community

A community that has a gated entrance is usually an HOA community that uses the HOA dues to pay for the gate upkeep and guards. Living in an HOA community has many benefits. Your neighbors have to keep their properties maintained, you'll have access to amenities on the grounds, your lawn might be taken care of with HOA dues, noise regulations keep the community peaceful and quiet, and your home will hold its value since the neighborhood is so well maintained.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.