))
Why Is Buying Financially Smarter Than Renting?
Manage episode 169641284 series 1331286
Content provided by Heidi Phong. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Heidi Phong or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Owning a home doesn't just give you a place to live; it's also a great investment. Allow me to explain why today.
Selling your home? Click here for a free home value report
Buying a home? Click here to search homes for sale
Buying a home? Click here to search homes for sale
Owning a home doesn't just provide you and your family with a place to live; it's also a great investment. Today, I wanted to share three reasons why:
1. A mortgage is fixed, but rent is not. It depends on the landlord as to how much, but your rent will go up over time. A mortgage payment will stay the same throughout the lifetime of your loan.
2. A mortgage acts as a forced savings account. Down the road, as you pay your mortgage and reduce the balance on your loan, you also increase your equity in the mortgage. If an emergency occurs or you want to make upgrades to your home, you can pull equity out of your mortgage because it acts like a savings account from the beginning.
"A mortgage acts as a forced savings account."3. You can rent out your home if you need to move, and they can pay down your mortgage. You can even potentially earn income from that renter.
These are just three reasons why owning a home is beneficial to your finances. If you're looking for more reasons or you're ready to buy or sell a house, give me a call or send me an email soon. I'd love to help you out!
16 episodes
Share
