Ready to Ditch the “Rent” Race?

If you’re currently renting, are thinking about buying a home, here are two rock-solid reasons why stopping the rent race and getting on a path to own your own home…

A Home’s Value Appreciation Over Time

Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn’t follow the normal pattern, but generally, home values kept rising. This is a big reason why buying a home can be better than renting. As prices go up and you pay down your mortgage, you build equity. Over time, this growing equity can really increase your net worth.1

Rents That Keep Rising

Here’s another reason you may want to think about buying a home instead of renting – rent just keeps going up over the years. Sure, it might be cheaper to rent right now in some areas, but every time you renew your lease or sign a new one, you’re likely to feel the squeeze of your rent getting higher.2

Stabilizing the money you’re spending for housing year over year is important. When you purchase a home with a fixed rate mortgage, your principal and interest payment remain fixed (overall monthly payment may change due to taxes and insurance). Combine this with the likelihood that your home value will appreciate/go up over time, and now you’ve embarked on wealth building. As the equity in the home builds, both by paying down your mortgage and its appreciating value… so does your net worth. When you think about it, you can almost hear that Landlord laughing as they collect rent every month!

Are you ready for home ownership? Contact me and let’s talk about it. 📲🤙📧

  1. Keeping Current Matters ↩︎
  2. Keeping Current Matters ↩︎

Leave a comment

Your email address will not be published. Required fields are marked *