Rent vs. Buy

Why should I buy instead of Rent? This is a great question and one so many have asked. Here are our Top 5 Reasons!

• Lower Monthly Payments: The cost of rent is expensive in west Michigan! You can actually own a home for less money than you can rent each month. This is because of todays all time low interest rates.
• Predictable payments: When renting, your rent will likely go up each year or every time you sign a new lease. But if you get a fixed-rate mortgage on a home, your mortgage payment will never change.
• Appreciation: Home values have increased historically an average of 5% a year. So you are building equity and assets. Paying your mortgage every month is like a forced savings account – you’re investing in your home, and its value increases over time. While your rent money goes directly to your landlord.
• Tax benefits: Homeowners can deduct mortgage interest and property taxes on their tax returns. This is an easy tax break.
• Help you retire: If you buy a home, the idea is to eventually pay it off and be mortgage free. Which would ultimately reduce your monthly expenses, which in turn helps you when you retire.

Are you still on the fence? Do you think you need a lot of money saved and high credit scores to be able to qualify to get a loan? Well, you might be surprised! So don’t just guess, call us today! We can help turn your dream of homeownership into reality or at the very least we can help you get prepared to be able to buy a house sooner than you actually think!