Whether You Rent or Buy You’re Paying a Mortgage
So, you’re actually the one giving the giant gift! And you’re landlord is delighted.
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either yours or your landlord’s.
I recently talked about your mortgage payment being a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Has he sent you a thank you card for the nice holiday gift you just sent him?
Oh, wait! January 1 is coming up. Happy New Year’s Eve a bit early. On that first day of the year, you get to give your landlord a nice check that is building into some spectacular equity for him.
If you’re still renting, let’s make this the year that you build your own gift of equity. Let’s explore this more deeply.
Are you ready to put your housing cost to work for you?
Christina Boyle, Senior Vice President and Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:
“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
With a new year, comes a new lease. For many tenants, that annual ritual comes with a rent increase. Ouch.
Bottom Line
This holiday season, why not give yourself the gift of homeownership? Lock in your housing costs for the next 30 years and guarantee you are the one building wealth.
If this is the year that you give yourself the gift of homeownership, I’m here to help you make that happen. The decision to buy a home is really just one small commitment after another, and before you know it, I’m handing you the keys!
Ready to chase your real estate dream? I’m here to chase that dream. And catch it.
I literally wake up in the middle of the night with marketing ideas for my listings. Using modern marketing tactics, I pride myself on setting the gold standard for Real Estate marketing.
Nearly 50% of the properties that I marketed last year went under-contract opening weekend. Trust me. My clients were delighted.
Personally, I love to dance (tango, west coast swing, lindy hop), surf (well, I try to), and laugh (every chance I get)!
Joyfully,
Ann
