09/21/2022
If you’ve been considering whether it’s a better investment to rent or buy a home, keep in mind that the interest rate on renting is 100% 😐😵💫 Ouch.
I know, I know. I won’t BASH renting, it has its perks - no maintenance costs, no down payment, flexibility to move, overall less concern about the property’s value.. But if you really think about it, renting is like paying 100% interest month after month after month.
When you put the fancy, financial jargon to the side and consider interest, it’s simply the fee you pay to be able to afford to live in a home. And that’s what you do when you rent, you pay a fee month after month for a roof over your head that’s not even yours (with money that you’ll never, ever see again).
When you buy a home, you also pay a monthly fee - the mortgage. BUT, you’ll see that money again someday (should you decide to sell) and you get more than just a home - there’s added perks!
In many situations (I’ll admit, not all!) it pays to buy vs. rent. Want to chat and run the numbers? Reach out today!
