There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home. As we have said before, mortgage interest rates are still near historic lows and rents continue to rise.
Housing Cost & Net Worth
Whether you rent or buy, you have a monthly housing cost.
As a buyer, you are contributing to YOUR net worth.
Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.”
“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”
The principal portion of your mortgage payment helps build your net worth through building the equity you have in your home.
As a renter, you are contributing to YOUR LANDLORD’S net worth.
Below is an example of the home equity that would be accrued over the course of the next five years if you had purchased a home in January; based on the results of the Home Price Expectation Survey.
In this example, simply by paying your mortgage, you would have increased your net worth by over $44,000!
Use your monthly housing cost to your advantage! Meet with a local real estate professional who can explain the opportunities available in your market.
Author:Deborah Boyd Phone: 940-368-1306 Dated: March 7th 2016 Views: 1,993 About Deborah: My family has lived in North Texas for generations so I personally know the residential areas of Fri...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
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Office Number: 1 (800) 683-5651
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"John was extremely responsive to all my questions and concerns as a first time home buyer and was always available for showings, inspections, walk throughs and closing. He kept in constant communication with me and was very supportive throughout the entire process. I would highly recommend him."