Why buy when you can rent?
Dated: May 9 2020
Rent versus buy has been the question for many people for a VERY long time. If you own a home you didn't buy it on a whim. There was certainly a lot that went into your decision to buy rather than continue to rent. And now you’re enjoying all the advantages of homeownership. If you are still renting, here are a few things you should consider before your lease is up.
1. Wealth building: When you own a home, you have an asset that will likely increase in value over time. It provides great security, and the opportunity to essentially live “rent-free” in your retirement years when the home is paid off.
2. Freedom to make it your own: Landlords can be strict about customizing rental properties. Most don’t even allow their tenants to paint! But when you own a home, the possibilities are endless. You can tear down a wall or paint it any color you like. It’s your property to do with as you see fit.
3. Building equity: Every mortgage payment your make, and every improvement you make on the home, is putting money back into your pocket. Unlike with renting, owning a home gives you more than just a place to live. You can use your home equity to get loans and even cash for emergencies.
4. More freedom and stability: Studies show that homeowners have a better sense of pride and security than renters. When you relax in your own home, you know it’s the result of hard work and planning, and that you have the freedom to change it as you wish.
If these reasons make sense to you, then please contact me today! Let's work together to get you into a home and out of a rental.
As a fourth generation native New Mexican and lifelong Albuquerque resident, Jeff Rose has a unique vision for the Albuquerque Real Estate market. He earned a BBA in Human Resources and Marketing fro....
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