Talking to my favorite client . He is single a first time home buyer and renting.
He has been looking for a condo to buy off and on for about nine months now. We have had long discussions on the pros and cons of buying versus renting.
Perhaps I should explain more- he is not just a client but a long time friend.More like family than a friend in fact I concider him family. He is a huge source of referrals to me .He sends me at least 4 referrals a year if not more.
He always tells me his return on his investment of his money pays his rent of course i argue back.. and then i advice him to speak to his accountant..
Well this year the same type condos we looked at last year have dropped in price ; he is considering paying cashfor instead of taking out a mortgage.. he is not getting the same return on his money he was on his investment on CDs ,bonds,or in the bank last year.
Why should he get a mortgage even at 4.5% -5.5 % interest rates ..even for a tax break.. I can give him my opion BUT.....I continue to tell him ...I am not an accountant ..So he has an appointment March 10,2009
He can live mortgage free ,,pay real ,estate taxes and condo fee...................... http://www.helpfulhannah.com
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Hannah-It sounds to me like he is very lucky to have you as a friend and a Realtor. You have his best interest at heart.