Renting vs. Buying, should I stay or should I go?
When it comes down to it, we probably know better where we stand financially than anyone.
That being said, there is a wealth of wisdom and resources to draw from,
as well as people who can help guide us.
So, let's begin, shall we?
Since we've touched on this topic before HERE, we won't belabor the point too much.
If you have never played with a Rent of Buy Calculator, here is one to show you visually the affects of where you money is going.
For instance, if we are paying $900 a month for rent, versus buying a home for $200,000, we would see the cost of the home and the rent meet up in year six.
Then the cost of the home would become increasingly less expensive than renting.
By the time your mortgage is paid off, we will have saved about $160,000!
That is college for kids, some amazing vacations, retirement (I know, too soon), investments, toys, emergency funds, or maybe just money that we would like to be able to better guide.
So, let's look at this another way, we don't want to buy a home, but we're still reading. We maybe looked at the rent vs. buy calculator and noticed the steady increase in rent and realized someone was capitalizing on that.
Yes! Someone owns that property and is receiving that $900 (fake, made up for this purpose) rent every month. That could be you. All we have to do is purchase this property (not the fake one, the real one) and start renting it out.
Some landlords, don't even live in the same city, the same state as their property. They hire property managers to take care of everything for them.
This is called passive income, your money is working for you.
Let me know if I can help you with your rent or buy decision.
For more information on homes in the Redding area, contact me.
Steve A. Chain - Agent
Transaction Administrator
DRE 01870567
Email: EMAIL ME
Mobile: (530)355-2804
Broker: Chain Real Estate Investment & Mtg.
Broker DRE: 01787156
ReddingHomesforSale.NET
List your home with Chain Real Estate - HERE
