Continuing to rent for Mr. and Mrs. Jingleberry is NOT the best decision. And here are 5 reasons why.
1. In renting for 15 years at $675.00 a month they have given the landlord $121,500.00.
If they had purchased, they would have possibly paid at least 50% or all of their own home.
Buying forces you to save, your mortgage payment is investing in yourself.
2. If they continue renting, they do not get any credit for it.
If they buy, their mortgage interest and property taxes are tax deductible.
3. If they continue renting the rent could go up or the owner can decide to terminate their lease.
If they buy their mortgage payment is fixed, they are more secure and in control of their own
destiny.
4. In renting you pay what you never get back.
If they buy over time their home increases in value and they begin to build equity thereby
increasing their net worth.
5. In renting if you have an emergency, you are may have no – where to get money.
If you buy your own home and you have a financial emergency you can rent part or all of your
home or you can borrow against the equity. It creates freedom and peace of mind for difficult
times.
These are just 5 reasons but the list is endless!!
GET EDUCATED
GET INFORMED
MAKE THE RIGHT DECISION