Tired of renting and paying the landlord’s mortgage? Let’s take a few minutes and see if buying a home is a good idea for you!
Some of the reasons people do not take the next step is because of fear. Fear is lack of knowledge; let’s explore your options together. If you are paying $2,000 or more for rent per month you may qualify to purchase a house and keep the monthly payment around the same. For most people it’s just a matter of playing around with money and numbers. First step, speak to a lender and ask about all the different types of loans you qualify for and what the monthly payments would look like if you put ‘X’ as a down payment. Most lenders should be able to run a free financial analysis that will show you what your payments would look like for years to come. (I work with the best lenders so call me and I will help get this started)
Top 5 Reasons Buying is better than Renting:
1) Mortgages are cheaper – In many cases it is actually cheaper on a monthly basis to own a home than to rent. To see a rent vs. buy scenario click this link: https://mcedge.tv/16o1xq
2) Make it your own – You have the freedom to do as you please, remodel your kitchen, add in a pool, free to paint, or even get a new dog!
3) Tax Benefits – There are several tax benefits when you are a homeowner that ultimately brings the cost even lower.
4) Equity – This will help with any loans you may need in the future with kids tuition, emergency expenses, or even opening up your own business.
5) Financial Health – On a long term basis, when renting you will not build any equity at all.
Now is the time to ask yourself these 3 simple questions:
1. After reviewing the Top 5 Reasons above, am I ready to Buy?
2. How much can I put down and how big of a loan do I qualify for?
3. What area would I like to live in?
Let's go shopping! Reach out to your local real estate consultant, Teresa Tang with RE/MAX Prestige for further information.