Buying property for you to own may be intimidating. But, do not be daunted. Here are reasons why you should consider buying instead of renting out.
Rental Trap
Continuing rising rental rates will make a big dent on your monthly family budget. A quarter of renters are burdened by expensive monthly rental costs, spending half of their income just to pay for it.
Apartment and house rental fees all over the United States continue to increase annually by 2.7% despite seasonal lows.
Households who pay for rent, usually have a hard time making ends meet.
Buying Costs Less
Homeownership is cheaper than renting, according to the results of the latest Rent vs. Buy Report from Trulia. Nationwide, owning a home is cheaper by 37.4%.
There is a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
Know Your Options
First time buyers may think that they need a large sum of money to make their initial down payment. This is the leading concern of millennials who plan to buy a house someday.
Credit score and affordability of monthly payments are the two main concerns of young, first-time buyers.
Continue saving up for your new home. It might not be as impossible as it may seem. Do not hold back.
Your dream home may just be within reach.
In Conclusion
Don’t get caught in the trap just like other renters. Find out if you are able to buy a home. It’s better to own a home than renting.
At Burgess Group Realty LLC, we help our clients determine if they’re qualified for a mortgage now. Let’s meetup to discuss the best options for your needs.
CALL Catherine now at 303.506.5669.
