Texas Tract Simi Valley | Renting or Buying…Either Way, You're Paying Someone's Mortgage

With so much uncertainty in today's financial climate, Texas Tract Simi Valley real estate still stands as a solid long-term investment strategy. Couple that with the fact that rents are at an all-time high, homeowners are some of the only ones that position themselves to reap the benefits of financial stability year over year. 

Today I would like to talk to you about Renting or Buying…Either Way, You're Paying Someone's Mortgage

 

There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich,”

 

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

 

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

 

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

 

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 3.94% last week.

 

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

 

Source...KCM Todd Kaufman Blog

 

If you have any questions about the Texas Tract Simi Valley, the local schools or surrounding community, don't hesitate to give me a call at 805-206-4313. I would be happy to help you. 

You can reach me at 805-206-4313

or by email at todd@kaufmanproperties.com

Thinking of buying or selling a home? I would love an opportunity to explain to you what makes me and my marketing approach different.

www.kaufmanproperties.com - call or text me at 805-206-4313 for more information