BUYING VERSUS RENTING

This may be a trivial question for many. Statistically buying a home get's expensive after many years renting. First of all, you are paying the owner mortgage and he or she get's the benefit of writing it off on their taxes. However many have to start out renting to save for a down payment, I recommend once you made up your mind to buy, you can put your tax return aside to help, sacrifice going in debt for Christmas. Typically rent goes up 3% each year as per local taxes on home owners. So here you are always faced with unknown each year of rent aggressively escalating and don't get anymore for it.

Many times rent is equal or more than a mortgage payment. with inflation many landlords may be more likely to increase your rent to offset the impact of inflation. Protect yourself from future rent hikes with a stabilized monthly payment. Of course taxes and insurance may increase slightly. Homeownership allows you to start building equity, home values typically rise over time and you payoff your mortgage you build equity. This equity can set you up for success later and can use as leverage to use funds. 

Many rent because they have cold feet on home ownership, bad credit or job cannot allow it due to constantly relocating because of employment mission. Click here to see more about home buying and renting /HOME-BUYING-AND-RENTING-IN-HIGH-DEMAND-IN-ORLANDO-FLORIDA---32819---32536---Orlando-Florida-6-20024.html

Bad credit can be upgraded provided you have a mind to grow your credit with the right agency and obedient.  Another joy is that you have peace of mind to plant flowers or grow a garden. Influencing and setting an example for your kids as they see and learn the process. Your home value generally appreciates each year. Also this creates equity in your home so that you may borrow money for home improvements, buy another property or pay off some bills.

Many renters cannot make the move and buy a home due to the out pacing of inflation with wages remain the same. Becoming a homeowner, if you are ready and able to do so, can provide lasting stability and a reliable shelter in times of economic uncertainty. Stay on the journey of homeownership.

Think about this if you are renting, you pay your landlord mortgage, property taxes and the landlord can deduct it from their taxes and helps their credit score goes up. Many of us have been there, however you have to crawl before you walk.

If you are questioning whether or not to purchase a home as we are in a cooling period, rely on the long term financial benefits of home ownership. The reason is tied to how you gain equity and wealth as home values grow with time. Home equity gains are built up through price appreciation and by paying off the mortgage through principle payments.

STATISTICS   

Many families that own rather renting, statistically live in their homes four times longer. This helps you to know your neighbors, see the trend of the housing market and community which leads to make serious decision to sell, stay or rent out as an investment home or refinance. Education wise much research shows children of homeowners promote higher test scores and graduate at a higher percentage rate than renters.

Take it from a homeowner, when you own, you gain equity as home prices rise as you make the monthly payments, you will be well pleased with your decision on a home purchase, knowing you are solid and stable in your home. This is why homeowners have a net worth.

Free of risking a thought of renting a possible foreclosed home is a worst nightmare. Follow the golden rule, save your money, grow your credit over 700 and contact the right realtor and trusted advisor by doing research or referrals.

Click link for one of my free e-books Navigating The Buying Process https://kevinstrawter.book.live/buyer-book as a trusted advisor and professional realtor, call today at 407 479-8583 for immediate response. Serving Dr Phillips and Central Florida. Facebook Kevin Sells Florida and Kevin Selling Florida. Click here to know more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html

FACTS

Rent increase every year

Value and interest write off

Self satisfaction

Example for your kids