BUYING VS RENTING

MY FIRST BLOG - I HOPE YOU ENJOY!
Some of us want to buy, others just want to rent, and then there are those don’t know what they want! Most don't realize they can qualify to buy!

It’s true that renting is usually less expensive per month than buying and you usually sign a short term or month to month lease. Which is helpful if you know you might have to move quickly. The downside is once you calculate a person’s tax savings for owning a home, the equity they build, plus the simple truth that rent usually increases each year - you'll find the homeowner usually is the one who comes out ahead in the money saving arena. If you look at yourself and the area you are currently residing in, you might find that owning a home makes more sense. For example, if you’ve lived in the same area for 3-5 years, why continue to rent? If you have a family, secure job, or a lot of relatives near by why not buy? Even planning to own a home only a couple of years is beneficial.
With 100% financing you can turn no money into a lot of money in the long run. 100% financing works if you know you can afford the monthly investment of a home and plan on living in the area awhile (say four to five years).
For example, take the average price of a condo in King County; it’s about $300,000 dollars. If the condo appreciates at just 5% a year (compared to the usually 8% average), your condo will be worth $366,000 dollars. At 8% appreciation it would be worth $412,000 dollars. This is only after four years! Potentially, you are talking about a gain of $66,000 to $112,000 dollars in realized gain just for living in your own property!
The tax advantage of writing off mortgage interest is another great incentive for buying. For example, if you paid $10,000 dollars in interest and are in the 28% percent tax bracket, you will get another $2,800 dollars.
Owning a home does come with more responsibilities. As a homeowner, you are responsible for the care of the property. For me working around the house is something I enjoy. Living in an apartment with little parking space, and loud neighbors was always an issue. As a homeowner if something needs repair then your the one to fix it. If your renting and something needs repair it tends to be a waiting game for the landlord to come and fix it. A home owner you'll find much more independence - landscaping, decorating, painting, get togethers. As a renter your not able to do most of the things you'd like to to your place to call it home.

We are in a buyers market, which makes purchasing even more sense. The real estate market now, is like Wal-Mart having a big sale. What happens when Wal-Mart has a sale? Everyone races to get there first! So don’t lose out on what I consider a great opportunity for buying real estate. Buy low, sell high, you will be happy you did!

Your landlord would probably thank you for paying the mortgage on the property while he collects the gains in property value. I can help you invest in yourself and the future of your family every month. You’ll start building equity, receive valuable tax breaks and gain control of your life.

My goal is to exceed your expectations! Home Ownership should be a smooth, easy and non stressful process and I make sure that it is!
Contact me today to learn how easy it is to obtain financing!
trent@nwfgi.com