Unfortunately, it seems that there are many renters who have not yet purchased a home, because they are uncomfortable taking on the obligation of a mortgage. However, unless you are living with your parents rent free, you are indeed still in essence paying a mortgage – either Yours or your Landlord’s.

As an owner, your mortgage payment is a form of ‘savings’ which enables you to build equity that you can tap into later in life. As a renter, you simply guarantee your Landlord is the person that benefits from that equity.

Are you ready to put your housing cost to work for you?

Christina Boyle, Senior Vice President and Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

 

Bottom Line

This holiday season, why not give yourself the gift of home ownership? Lock in your housing costs for the next 30 years (or 15 years) and guarantee you are the one building wealth and not your Landlord!!  Call or text me at 727.755.3434 and I would be glad to help.