Tuesday, December 13, 2016

Why are you renting?

Why are you renting?
It seems like this question would have an obvious answer…that is until you really think about it. My Real Estate Broker friend asked me this very question a few months back and I honestly had no legitimate answer. I was trying to come up with all these irrational reasons:

  •       I need to save at least $10,000.
  •   I’m not sure how long I will be in this area, maybe only 4 or 5 more years.
  •        I love the neighborhood I live in, but the properties are so expensive.
  •   I’m not sure if my credit is worthy of home ownership.
  •   I’ve owned a few properties and I haven’t made any money from real estate sales to date.
  •   I don’t want the responsibility of home ownership.

I know, these are all great reasons to continue to rent, RIGHT? WRONG…. Now here is the truth. Although you may be afraid of taking the steps necessary to own a home, it is so worth it. 

Here are the reasons you have to own a home and stop renting:

  • Home ownership is the first step to financial freedom.
  • When you rent, you are paying someone else’s mortgage payment.
  • You can buy a home and your monthly mortgage payment will likely be less than your monthly rental payment.
  • There are several programs available that can assist you with your down payment and/or closing costs incurred during the purchase of a home.
  • There are lots of communities with homes available that fit your budget.
  • Speaking to a mortgage lender will help take the guess work out of whether or not you would qualify for a loan and assist you with developing a plan of action if now is not the perfect time for you to purchase a home.
  • The housing market is continuing to rebound and home values are steadily rising.
  • A home is an investment and if you decide to relocate you can lease or sell your property to increase your financial worth.
  • Home warranty programs are available for a nominal fee and they cover repairs or replacement of items in your home that could otherwise cause a financial hardship.

So, can you tell me again, why are you renting? If you have no legitimate answers you need to contact a realtor extraordinaire like me, Teesha Carter. Allow me to assist you with having a better answer to, why are you renting?

 I’m not renting, I purchased an awesome home and I’m thankful for my purchaseJ