To rent or buy?

[Random guy]

Should I keep renting or buy a home?

In my profession I am asked this question many times.

I thought I would see if I could answer some of the aspects of this question for those who are considering freeing them self from the no-gain world of renting.

With the factors of inflation and increased living expenses writing that rent check every month becomes harder to accept.

Have you ever thought that with every rent check you write, you’re helping to build equity in your landlord’s property. That money could be going toward building equity in a home of your own. Today’s rates are low enough, paired with many mortgage programs to chose from, your house payment could be equal or even less than your current rent payment!

Some of the many advantages of owning a home in comparison to renting are:

1) Security- A feeling of security that comes from owning your own home and the safe guard against inflation.

2) Investment- Payments on your mortgage loan mean you are acquiring a major possession; instead of rent, you own more and more every month. Also the improvements you make to your home not only enhance your way of living as well as the value of your home.

3) Tax advantage- Your real estate taxes and the interest on your mortgage may be deductible from your income taxes. (consult your tax professional)

4) Cash Equity- This is better than a savings account, your home may appreciate to keep pace with inflation and will normally grow in value as property values continue to increase.

5) Satisfaction- This I believe is one of the most valuable aspects of owning a home. No more neighbors banging around at 1am, an end to the rules, regulations, do and don’ts of being at the mercy of the landlord. Once you own a home you can decorate how ever you want, create a workshop in the garage, turn up stereo when one of you favorite songs is playing on the radio and you now have your own yard for barbecues and family gatherings. Not to mention the space to store the things we all enjoy here at Fishing Minnesota like boats, portable fish houses and ATVs.

It may be easier then you think. Homeownership is not out of your reach, all it takes to get started is one phone call. I will be more then willing to help out any Fishing Minnesota Member put together a few ideas for financing a home purchase. I can determine what amount and programs you qualify for and what will work best for you and your specific situation. Don’t think you need to have a wad of cash in your hand to get into a house, I have many options including low or no money down financing of a home purchase.

Give me a call and let me know you saw this on Fishing Minnesota.

1-800-974-5222