Buying vs Renting

Buying vs Renting

rentorbuyIf you’re thinking of buying a home, you have probably already asked yourself ‘Can I afford to buy?’ Another good questions to ask is, “Can I afford to continue renting?”

No matter what you are currently paying for rent, your total cash outlay over a period of several years, will probably add up to a much higher total than you may have realized. The following chart shows how quickly the rent payments you are making adds up. We are no counting what you would have earned if this money was invested instead just added your monthly rent for the different period of time:

With the money you are currently spending on rent, you could be building equity in your home. Keep in mind, too, that over the years your income most likely will increase faster than any increase in your mortgage payment. Rent payments, on the other hand, tend to increase, right along with your paycheck if not faster.

Other points to keep in mind when you own a home: Homeowner Tax Advantages and Home Value Appreciation.

You can make ownership a reality

Take a good look at your personal financial situation in comparison to housing price trends and mortgage plans available in your community. You will probably discover that you are closer to home ownership that you had realized. Buying a home is probably one of the biggest investments you will ever make.And when it’s your first home, it is specially important that you seek qualified assistance. Your local real estate agent or broker has the experience and expertise to guide you through the maze and help you find, and purchaser, the home of your dreams. A true professional will also have a network of reliable service provider such as credit counseling and credit repair, mortgage brokers, inspectors and everything you might need before, during and beyond the process.

For any of your real estate needs feel free to contact us for a private and confidential appointment to find out where you are, where you want to be and how we can connect the points to bring you there.

Noemi Cardoso
Seven Gables Real Estate
Cell: 714-698-9655
www.agentwithanaccent.com
Cal BRE# 01988945

Providing value to Buyers and Sellers since 2005

Posted on October 22, 2016 at 7:00 am
Noemi Cardoso | Category: Buyer's Advice | Tagged , , , , ,

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