Should I become a homeowner or should I continue to pay rent? This question continues to be prevalent in today’s market, especially for young people and first time home buyers. Aside from obvious budgetary restraints that prevent one from purchasing a home, the advantages of buying a home now heavily outweigh the disadvantages to waiting and continuing to fill your landlord’s wallet:
- LOW RATES AND AFFORDABILITY. Mortgage interest rates haven’t been this low in decades. Why would you pay rent when affordability is at an all-time high? Buyers from 2000-2010 would give up a kidney to buy in today’s market instead.
- WHERE IS YOUR RENT MONEY GOING? Paying to live somewhere must be treated the same as any other investment. There is no…