Good Morning Lakewood/Mortgage or Rent?

Good Morning Lakewood/Mortgage or Rent?

Either Way, You’re Still Paying a Mortgage

brought to you by THE KCM BLOG

wealthy houseThere 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.

If you feel you are ready to start the home buying process, give me a call at 562-879-9677 or visit me at

http://on.fb.me/1in8ISQ
and search for your new home.

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Before going into real estate in 2001, I worked in the medical field. Found it very rewarding helping others and decided to make a switch and help those, who want to achieve the "American Dream". As a homeowner, I know the importance of home ownership and nothing gives me more pleasure than to place those keys into the hands of a new homeowner. I look forward to helping you, with all your real estate needs.

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