There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home.
Whether you rent or buy, you have a monthly housing cost. 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.
In this example, simply by paying your mortgage, you have just increased your net worth by over $34,000!
Use your monthly housing cost to your advantage! Meet with a local real estate professional who can explain the opportunities available in your market. For more information or questions give us a call we are here to help in all your real estate needs. (661) 410-6857