Residential real estate sales continue to illustrate steady strengthening. Though inventory constraints eased in May, limited supply persists and is applying pressure to both price and the speed of
Buying Vs Renting Which Is Better For You
According to a recent Trulia report, "buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%. " The report may have some people thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective?
Ralph McLaughlin, Trulia's Chief Economist explains:
"Owning a home is one of the most common ways households build long-term wealth, as it acts like a forced savings account. Instead of paying your landlord, you can pay yourself in the long run through paying down a mortgage on a house."
The article listed five reason why owning a home makes financial sense:
1. Mortgage payments can be fixed while rents go up.
2. Equity in your home may be a financial resource later
3. You can build wealth without paying capital gains
4. A mortgage can act as forced saving account.
5. Overall, home owners enjoy greater wealth growth than renters.
BOTTOM LINE: Before you sign another lease, let's get together and discuss all your options!
You don’t choose a home because you love the paint color. No, an investment this big demands in-depth knowledge so that you can buy with confidence. That’s where I come in. As an agent with Berk....
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Before we get to it, please ask the children to leave the room, I'm about to use an F word... FINANCING.