Posts from April 4th, 2019
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4
Why rent when you can buy?
Paying a fixed mortgage stabilizes your budget. In popular neighborhoods, rent is likely to rise as the neighborhood becomes more desirable and developed. With a mortgage your monthly payments stay the same, making your monthly budget easier to maintain and follow.
Buying a home costs less than renting over time. Although the monthly payment may be more initially, most mortgages have a fixed rate over the life of the loan meaning that you pay the same amount each month for the duration of the loan. Not only are you paying a monthly payment toward a property that you own unlike paying monthly rent, you are also likely to make a return on your investment during the time that you live at the residence.
Home ownership can be built-in savings account.