Poor plumbing conditions in your home can escalate to bigger problems such as flooding and accidents. On top of that, you'll most likely find your monthly water bills with exceeding charges.Avoid
Feb 6 2019 64092 1
Whose Mortgage Do You Want to Pay? Yours or Your Landlord’s?
There are some people who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”
With home prices rising, many renters are concerned about their house-buying power. Mike Fratantoni, Chief Economist at MBA, explained:
“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we do expect to see a solid spring market.”
As an owner, your mortgage payment is a form of ‘forced savings,’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.
As mentioned before, interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest reportshows that rates across the country were at 4.46% last week.
Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.
As a real estate agent since 2000, I enjoy helping others discover Central Texas and make a home here. Real estate in Austin offers many options to home buyers and I will make sure you explore every o....
Latest Blog Posts
By Anica OaksA home purchase is often the biggest investment a person will make in their life. When the time comes to sell your house, you want to get the best price possible. If you explore one
If you're selling your home, you're likely trying to make as much of a profit as possible. Unfortunately, most markets are crowded and it can be difficult to stand out. If you want to get a good