Why You Should Stop Renting & Buy Today!

    There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home.

    Housing Cost & Net Worth

    Whether you rent or buy, you have a monthly housing cost.

     

    As a buyer, you are paying YOUR mortgage.

    Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.”

    “Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

    The principal portion of your mortgage payment helps build your net worth through building the equity you have in your home.

    As a renter, you are paying YOUR LANDLORD’S mortgage.

    Below is an example of the home equity that would be accrued over the course of the next four years if you were to buy a home by the end of this year; based on the results of the Home Price Expectation Survey.

    Home Equity Over The Next 4 Years | Simplifying The Market

    In this example, simply by paying your mortgage, you have just increased your net worth by over $34,000!

    Bottom Line

    Use your monthly housing cost to your advantage! Let’s get together and discuss the opportunities available in our market.

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    About our blog

    Ranked #1 Realtor in Tampa by U.S. News and World Report.

    Doug, Annette & Dale Bohannon

    Team Bohannon Real Estate Experts

    Keller Williams Tampa Properties
    Tampa, Florida

    (813) 979-4963

    If you're looking for a trusted partner who exceeds expectations, reduces stress, fulfills promises, and is on top of all the details, consider Tampa's Top Real Estate Team: Doug, Annette and Dale Bohannon when buying or selling your home, call us today at 813-979-4963

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