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Avoid The Trap
Dated: 08/01/2017
Views: 51
Be Careful Not to Get Caught in The Rental Trap!
 There are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage. Don’t Become TrappedA recent article by ConsumerAffairs addressed the continuous rise in rents, stating:
Additionally, in the Joint Center for Housing Studies at Harvard University’s 2017 State of the Nation’s Housing Report, it was revealed that,
These households struggle to save for a rainy day and pay other bills, including groceries and healthcare. It’s Cheaper to Buy Than RentAs we have previously mentioned, the results of the latest Rent vs. Buy Report from Trulia shows that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide! Know Your OptionsPerhaps you have already saved enough to buy your first home. A nationwide survey of about 24,000 renters found that 80% of millennial renters plan to eventually buy a house, but 72% cite affordability as their primary obstacle. Aside from affordability, one in three millennial renters have concerns about their credit scores, and another 53% said that a down payment is an obstacle. Many first-time homebuyers who believe that they need a large down payment may be holding themselves back from their dream homes. As we have reported before, in many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. You may have already saved enough! Bottom LineDon’t get caught in the trap that so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Let’s get together to determine if you can qualify for a mortgage now! It is not as hard to qualify as you might think.
Colorado Springs Real Estate professional -Christine Sullivan Christine is a motivated realtor specializing in listings in the Colorado Front Range and new home buyers located in the following areas;Colorado Springs, Monument and surrounding areas. Christine Sullivan uses advanced internet marketing to insure your property gets maximum exposure and will give you a professional edge needed to navigate today's housing market. For help with buying or selling a property call 1-719 660-5801 |
Christine Sullivan
I arrived in Colorado Springs for a quick vacation in 1993 and within a few days I knew that this is where I belong! I transferred from the college I had just started attending in Orange County, CA an....
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