Put Your Housing Cost To Work For You!

//Put Your Housing Cost To Work For You!

Put Your Housing Cost To Work For You!

Put Your Housing Cost To Work For You! | Simplifying The Market

There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home. As we have said before, mortgage interest rates are still near historic lows and rents continue to rise.

Housing Cost & Net Worth

Whether you rent or buy, you have a monthly housing cost.

As a buyer, you are contributing to YOUR net worth.

Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.”

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The principal portion of your mortgage payment helps build your net worth through building the equity you have in your home.

As a renter, you are contributing to YOUR LANDLORD’S net worth.

Below is an example of the home equity that would be accrued over the course of the next five years if you had purchased a home in January; based on the results of the Home Price Expectation Survey.

Put Your Housing Cost To Work For You! | Simplifying The Market

In this example, simply by paying your mortgage, you would have increased your net worth by over $44,000!

Bottom Line

Use your monthly housing cost to your advantage! Let’s meet up to discuss the opportunities available in your market.

2017-07-27T04:57:45+00:00

About the Author:

Gary & Stan's team of dedicated professionals at RE/MAX Estate Properties provide aggressive marketing, negotiation and transactional expertise with the sole mission of exceeding client expectations and consistently delivering superior results. Our combined 30+ years of local real estate experience, talents and hands on client attention; coupled with the market dominance and resources of RE/MAX Estate Properties, makes us an outstanding choice as your REALTORS. 3 BIG REASONS TO HIRE US TO SELL YOUR HOME Our performance record is better than the average agent. 1) MORE MONEY. We get you 3% more money than the average agent. 2) FASTER SALES. We sell homes 14 days quicker than the average agent. 3) MORE LIKELY TO SELL. 100% of our listings sell. Source: Facts & Trends Trendgraphix, Greater South Bay MLS.