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Buy or Rent? For first time homebuyers mortgage rates may go up or down, but you are actively investing in home equity. Renting doesn’t give you an equity investment or a tax break. Renting a home instead of buying a home depends on your financial situation and what is right for you. However, most people don’t realize how easy it is to get into the market.
Buying is a much better choice.
Buying a home is a longtime investment and has numerous advantages. The major one is that you are investing into your future and building your assets. As you pay off your mortgage, you are creating equity in your home, something renting does not do. Rent money only benefits the landlords or property managers instead of building your assets.
Then there are those who Buy to Rent!
Investment properties are a great way to make a living! Investing in a rental property differs from buying a home as a primary residence in that the end goal is to turn a profit. This means your purchase should be looked at as a business by choosing affordable properties and assessing the rental value. A well planned and executed rental property can eventually become a source of real estate income and profit.
More related readings you might like:
- Fixed Interest Rate Loan
- Jumbo Loan
- No Income Verification Loan
- Rate-and-Term Refinance
- Reverse Mortgage
- USDA loan
- How to buy smart a home today – Modern solutions for modern times.
- Which loan is right for YOU in todays markets?
- How foreign nationals loan program helps non-citizen borrowers and gives them the opportunity to invest in real estate in the United States.
- Refinancing – How to secure a better rate and term or get a cash out on your home equity today.