Should You Rent or Should You Buy?
Posted by Blog Admin on Thursday, November 2nd, 2017 at 11:31am.
Sometimes it’s hard to know when to stop renting and become a homeowner. Taking out a mortgage seems like such a big responsibility. The truth is, you’re paying someone’s mortgage either way. You can decide to pay monthly toward your own future, or you can send that payment to your landlord and invest in his.
At Peggy Slappey Properties, we have clients who rent for all kinds of reasons: bad credit, the need for flexibility, job or income uncertainty, even the desire to avoid maintenance and repair costs. We know there are appropriate times and circumstances for renting, but we also know how beneficial home ownership is.
Most buyers will qualify for a traditional, 30-year fixed rate mortgage. Over the course of 30 years, that payment will stay the same each month. That stability helps you plan vacations, kids’ college funds, and even your own retirement. Rent, however, will likely increase with each year that passes, pulling more of your hard-earned money away from other endeavors.
At the end of your 30-year term, you own something of great value. That monthly mortgage payment served as a forced savings account, building equity in your home with each passing month. When you continue to rent, it’s the landlord who reaps the benefit when his mortgage is paid off. It makes so much more financial sense to invest in building your own wealth instead of lining your landlord’s pockets.
When you’re ready to buy, we hope your first stop is www.psponline.com, where you can start your home search, save your favorite homes, and read all about becoming a first-time home buyer. We can’t wait to help you invest in your future!
Peggy Slappey Properties, Inc. is a Metro Atlanta real estate brokerage celebrating 35 years of experience in real estate sales and marketing. From new home construction to resales, we can help you find the home of your dreams. To see our current listings, visit www.psponline.com and call us for expert advice at 770-271-5555. Keep up to date with the latest PSP events and offers by checking in on Facebook at https://www.facebook.com/peggyslappeyproperties and on Twitter at https://twitter.com/psponline.
Contributing Source: https://www.mykcm.com/2017/10/30/renting-or-buyingeither-way-youre-paying-someones-mortgage/