To Buy or Rent – that is the questions!
lot of people, the number one reason they choose to rent versus buy their
home is their fear of signing their name to a long-term mortgage agreement.
face it – very few of us can go through life without paying for our place of
in one form or another. In that sense, you’ve already made a
to a fixed schedule of payments for housing -- whether it’s in the
a mortgage or a rental lease. In actual fact, one of the major advantages
mortgage agreement is that it usually covers a longer time period than a
-- which can work in your favor. Since no one can guarantee what your
payments may be two or even five years down the road, your mortgage
actually protects you from the increases – compounding annually --
often encounter when you rent.
some people are still intimidated by the total debt that a mortgage
represents. Yet if you added up all the rental payments you could
to pay over an extended period of time, you may find that going the
route is actually the more affordable of the two options. With today’s
low mortgage rates, and creative financing options, the cost of carrying
may be lower than what you might expect. Your Coldwell Banker real
professional can show you how owning your own home may be more
than you ever imagined.
making mortgage payments may actually be more affordable than paying
costs, let’s not lose sight of the biggest financial benefit of buying a home.
simple fact of the matter is, when you rent, you’re slowly but surely building
else’s ownership equity in the property. On the other hand, when you
home, a portion of your mortgage payment is building personal equity for
And if sometime in the future, you decide to sell, that equity is something
take with you as you make your next move.
let’s not forget the creative freedom and pride of ownership that comes
owning your own property. When you buy, you decide the extent of home
and decor changes you want to make. You decide on color
and where you want to build that bookcase. Maybe best of all, you gain
equity that those improvements add to your home. Spending money to
a rental property just puts value in someone else’s pocket.
tired of paying off someone else’s home for them, talk to your Coldwell
real estate professional for a no obligation consultation and find out how
to make your dream of home
ownership a reality.
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty