There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with our parents rent free, you are paying a mortgage - either your mortgage or your landlord’s.
As a recent paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
Also, if you purchase with a 30-year fixed rate mortgage, your ‘housing expense’ is locked in over the thirty years for the most part. If you rent, the one guarantee you will have is that your rent will increase over that same thirty year time period. Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting since prices and interest rates are still at bargain prices.
Scott Sweeney Realtor - M&M Real Estate Cell: Call/Text 707-330-2324 Office: Call/Text 916-245-3060 Schedule a call or zoom with us here! 👇
About Scott Sweeney Scott Sweeney is a top 5% producing Elk Grove Realtor who services the greater Sacramento & Solano county areas. He has been the top producer for the last 6 consecutive years at M&M Real Estate, and his association has recognized his success and inducted him into the Sacramento Association Of Realtors Masters Club in 2019. Scott has over 15 years working in the real estate industry all of which at M&M Real Estate; a locally owned and operated real estate office in Elk Grove, Ca. Scott has a Bachelor Of Science in Business Administration, with a concentration in Marketing from CSUS. His education, and extensive background in the hospitality, marketing, and real estate industries, have helped Scott to become one of the leading, and most sought-after agents in the area. Scott puts his clients first and is known for taking an educational approach with his clients so they understand every step and strategy of the home buying and selling process. Reach out to Scott Sweeney & SweeneySells today to take the first step towards your real estate goals! Read Scott's Reviews Here Contact Information: Scott Sweeney Realtor - M&M Real Estate BRE Lic# 01938720
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