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 investor’s logic to paying rent, unless you enjoy paying your landlord’s bills.
- MARIN REAL ESTATE = SAFE INVESTMENT. There are many ways to spend your money. Few investments will have less risk and more return than a single-family residence in Marin County. It’s certainly a safer bet than investing in the stock market or that hot new app in Silicon Valley. Marin has some of the best school districts in the state, very little development, and a steady market appreciation over the past 5 years. With San Francisco approaching a potential bubble, many city buyers have already expanded their search to Marin’s communities.
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