……Think Again

In the long run buying costs less than renting.

Look at it this way:

Every time you pay rent, you are paying towards somebody elses’ mortgage.  Every time you pay mortgage, you are paying yourself.

RENTING

Building Equity

  • Your rental payments go towards paying the your landlord. For, whatever.
  • Payments you make on your rental don’t benefit you other than keeping a roof over your head.
  • The longer you rent, the longer you put off building equity.

Shifting Community

 

  • Renting means that your neighbors revolve frequently.
  • Getting evicted can make it impossible for you to buy AND rent in the future.

Guarantees?

  • Your rent can and probably will go up.
  • The longer you stay, the less you get.  Landlords will tell you: the dream renter is someone who will stay for a long time and not ask for much.  Is that you?
  • Updates, painting and edits to your space aren’t allowed without landlord permission and you could be fined for making them.
  • You have no control over the possibility that your home may be sold or foreclosed upon.
  • If you have a pet, it is probably harder for you to move or find a new rental. And if you want a pet?  You may not be allowed to make that choice!

VS.

BUYING

Building Equity

  • Your first mortgage payments go towards paying the interest on your loan.
  • BUT each payment you make also increase your share in your home’s value.
  • Equity = Increase In Your Wealth

Joining a Community

  • Now you are literally invested in your city and your neighborhood.  Awesome!
  • Statistics show homeowners tend to be more invested in their community as well as more organized than their renting peers.
  • Go ahead and get those chickens you’ve been wanting.  We won’t stop you!

Guarantees

  • If you have a fixed interest rate mortgage you will always pay the same amount every month for the life of your mortgage.
  • Your home is yours and what you choose to do IN it, TO it and even ON it is your beeswax. Total freedom is yours.
  • You can sleep well at night knowing that you’ve secured a place where you can live and grow for as long as you want.
  • Decorate, paint, garden and create as you want to.
  • Nobody can make you move except for you.
  • No restrictions on pets, noise or remodeling (other than legal ones!)

Tax Extras

  • You can deduct property taxes and mortgage interest from your taxes.
  • The tax savings alone can make a house purchase more reasonable than renting

Contact Betsy Morris

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