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Renting vs Buying
September 13, 2020 at 2:44pm | Munce Tronsgard
Did you know when you own a home, the money you pay every month on your mortgage is actually building your equity? Not the same when you pay your rent. Your rent money is actually paying someone else's mortgage!
Hey guys, Munce Tronsgard here with the Twin Cities Elite Real Estate Group!
Two of my most recent buyer clients have been renters. In fact, one of them just closed on their new house this morning, and I thought now would be a good time to go over the advantages you gain when you move from renting to owning your own home.
- Under a lease agreement and need to get approval when you want to make any changes.
- Your monthly rent payment is not creating any wealth or equity for you.
- You have no control over rent fluctuations from year to year.
- Building equity with each mortgage payment you make.
- Your payment is stabilized, you know what it's going to be month after month, year after year.
- You have creative license to do whatever you want to your house.
So if you're ready to move from renting your own place to buying a home, get a hold of the Twin Cities Elite Real Estate Group, and we'd be happy to help you out!