Why Buy vs Rent?
If you’re thinking about the pros and cons of homeownership, here are some things to consider.With renting, rather than paying off someone else’s home mortgage and contributing to their annual and retirement income, you could be putting your monthly rental money into your own home for the same amount you’re paying in rent, if not less. And when you want to change the paint color of your bedroom, you don’t have to call your landlord to get permission…. you simply can.
As a renter, your landlord could decide if they either want to move into the house you’re renting, or they may need to sell, causing you the strife of having to go through the stress of moving and the inconvenience of cooperating with showings to prospective buyers coming in and out of your personal space.
Although the national real estate market experienced a severe downturnseveral years ago due to the banking crisis, historicallythe housing market has appreciated over time (over the last 75 years) making it a higher earning investment in comparison to the stock market. Countless people who’ve purchased their first home several decades ago (for most likely under $30,000) are now selling their homes for $300,000 or more making their initial investment as young adults a substantial retirement they can count on.
Since the market crash in 2007, Lake County has seen an increase in property values, year over year,of anywhere from 10-18% per year while most investors in the stock market have seen returns only ranging from 4-8%. This means that if you buy “right”;meaning buying the right property in a good neighborhood for a fair price, then there’s a strong possibility your house will go up in value for every year you and your family live in it. Thus making it an undeniably great return on your investment.
Many of our clients didn’t realize they could afford to buy a house or even qualify for a mortgage until they spoke with us. Did you know that there’s a special mortgage loan you may qualify for to buy a home in Lake County with NO MONEY DOWN?If you have a steady job and average credit, you may qualify.
Call us today to find out if you qualify to buy a home with 100% financing, no money down!