Are you trying to decide whether you should continue renting or become a homeowner? If so, today’s message will help you find your answer.
There’s only one person out there who should be renting. Who is that person? It’s any person who is renting from you. That’s right—if you’re going to be involved in a renter/landlord relationship, you should be the landlord.
Whether you own your home or you’re renting it, you’re paying someone’s mortgage either way. Why not pay your own and start building equity? Equity, which is the amount of the home you own versus what you owe, is essentially a form of forced savings.
There are actually a number of reasons why homeownership is the superior option. In addition to helping you build equity, it will also help you build up your credit. Both of these things will make it easier for you to reap the third benefit of homeownership, which is that buying your first home will ultimately make it easier to purchase your next.
This is especially true if you decide to turn the first property into a rental. Then, as we mentioned before, the monthly payments from your tenant will help put even more equity into your pocket. The decision to become a homeowner is a no-brainer.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
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