Thursday, May 31, 2018 / by Sherry Kwintner
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Today we’re here to answer a few questions many people have about renting versus buying a home.
A lot of young professionals are at that time of year where they’re thinking about whether to Renew their Lease for another year or Purchase their own Home.
What are the advantages of buying? If you decide to buy a home, you can treat it as an investment - Like a forced savings account. By renting, you’re just paying off the Landlord’s mortgage and not reaping the benefits of accumulating equity. If you’re investing in your own home, the monthly mortgage pays toward your principal balance and that equity is yours to keep. This is before mentioning sky rocketing rental rates; increasing nearly 20% every year in Georgia!
Now, let’s talk about the big “M” word. Marriage? No, not marriage! We’re talking about obtaining a Mortgage and the steps you’ll want to take for the most Buying Power and the Lowest Rates.
We recommend working with local lenders to help our homebuyers. It’s a more personal, reliable, and professional experience. They do a lot more than simply filling out a Pre-Approval Letter and calculating a Monthly budget based on your principal payment, taxes and insurance.
Another advantage to partnering with a local lender is they have special resources to evaluate your financial history to see what Loan Products fit you best. Whether you are self-employed (on a 1099), salaried and receiving a W-2, or even hoping to repair credit, a great lender will provide solutions.
Now that you have all this information to easily Buy a Home, it’s time to introduce you to a Rock Star Buyer’s Agent. We’re local experts and ready to show you our 5-Step Buyer System and Explain how to Move Forward to Home Ownership! If you or someone you know is ready to Move-In, Move-Out, or Move-up, give us a call or send an email. We would love to hear from you TODAY!