It's kind of hard for me to believe that there are still people that have good paying jobs are still renting.
Did you know that if you buy, almost the entire monthly mortgage payment is interest which is claimable on your tax return ? If your mortgage payment if $1,500 / month, that is $18,000 per year. Almost every dime of that $18,000 is Mortgage Interest Paid in the 1st year of the mortgage payments. Can you imagine how big of a tax return you would get if you were to be able to claim this on your taxes every year ? This is One Good Reason why you should be buying a house right now instead of renting. Guess how much refund you get from paying the same amount of money in rent per year ? You guessed it -- zero. So what are you waiting for ?
This is such a good time to purchase a home. Prices of homes are slowly rising. Interest rates are still down low. If you wait to purchase a home, the prices may rise beyond your ability to purchase. If you're making between $50-$70 per year, you're in a good income range to purchase your 1st home.
For those of you who already own your home, you should seriously consider renting that home out and purchasing a 2nd home. The rental market has gone sky high, so its a good time to rent out the home you are currently living in. You would be surprised how much you could get as a monthly income from the house you're living in. Let me know the address of the home you are wondering how much you could get for rent, and I will tell you what monthly rent you could ask for.
If you need help repairing your credit or getting some good solid advice on what actions to take on specific items on your credit report, please contact me and I will put in touch with the people who will help you with that.
Here is an article I wrote on Rent to Own
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