question plaguing every tenant who wants a home of their own is whether they
should continue to rent or is it the right time to buy?
combination of good prices and low mortgage rates make it considerably
cheaper to own than rent in most markets.
Assuming a person is qualified with
a down payment and won't be moving for several years, there may not be a
better time to buy a home.
example below, the total house payment is $1,281.01 compared to $1,500 to
rent the same home. Before you consider any of the financial benefits
attached to home ownership, it's cheaper to own than to rent.
cost of housing falls to $764 or just more than half the house payment when
you consider the principal reduction due to normal amortization, a modest
appreciation and the tax savings along with a reasonable maintenance expense
that a tenant would not have to pay.
the biggest benefits is the growing equity. As the value goes up, the unpaid
balance goes down. A favorable leverage causes their low down payment to grow
to $40,609 in a short seven years based on a modest 1% appreciation.
an expression often heard in real estate circles: "Whether you rent or
buy, you pay for the house you occupy." You're either buying it for
yourself or you're helping the landlord buy it.
out a Rent
vs. Own to see how your numbers will compare to this example or call me
to do it for you.
Residential Finance Consultant, I have the training and experience to
provide solutions to make homes more marketable and help
structure favorable transactions. Please forward this article to
your friends or family who could benefit from it.
We understand that for many people, buying or selling a home is probably the largest investment decision that they will make in their lifetime. Halo Group Realty LLC thus became active in selling Real Estate in 2008 and was setup to make this process a simple and painless transaction. Your dedicated agent will guide you every step of the way to make purchasing or selling your home enjoyable and exciting… as it should be!
Today, Halo Group Realty LLC is at the cutting edge of technology in offering assistance to those in need of real estate services, and we have revolutionized the method of delivering education to consumers. Halo is established as the place for consumers to get the knowledge and assistance they deserve in the process of facilitating the Real Estate transaction, positioning you in the best possible situation to get the best price when you either to buy or sell. With leadership, innovation and forward thinking, Halo Group Realty, LLC is poised to make a huge impression in the real estate market while providing clients the keys to home ownership.
Our goal is to help make your dream a reality and take away all of the stress that goes along with purchasing or selling your home. Whether you are purchasing new construction, an existing home, or just an open space for future enjoyment, representation by a Halo agent is a valuable tool in making your dream become a reality.