Still Renting Your Home? Four Facts That Might Change Your Mind
Still Renting Your Home?
Each year, home renters face the question of whether to renew their lease for another year or determine it is time to buy a home of their own. Over the past couple of years, the US housing market has changed dramatically as home values have soared and interest rates have remained low (side note: they're rising now though☹).
So, if you are still renting your home, it might be time to buy instead and try and beat those interest rates.
List of Services
-
1. Rents Are Rising QuicklyList Item 1
Higher priced home values drive higher rent costs. While a 30-year fixed home loan will provide steady monthly payments for the duration, most renters are shocked to see their housing payments rise each year.
-
2. Paying for Your Landlord’s EquityList Item 2
As home prices rise, so does the equity in the property. As a renter, you are making the loan payments for your landlord, while they reap the benefit of increased equity.
-
3. You Get What Your GetList Item 3
A homeowner can paint, renovate, and customize the home to their heart’s content. A renter must live with the choices the landlord made about décor.
-
4. No Tax BenefitsList Item 4
Homeowners can deduct the home mortgage interest and property taxes off their gross income, offering huge tax savings.
With a wide variety of home loan programs available, buying a home may be more affordable than you think. If your lease is up for renewal, this could be a good time to consider the benefits of homeownership instead.
Get In Touch
Contact us
