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2019-08-08 09:28:42
Either Way, You’re Still Paying a Mortgage by Tarik Hall

Either Way, You’re Still Paying a Mortgage



There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with our parents rent free, you are paying a mortgage - either your mortgage or your landlord’s.

As a recent paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

Also, if you purchase with a 30-year fixed rate mortgage, your ‘housing expense’ is locked in over the thirty years for the most part. If you rent, the one guarantee you will have is that your rent will increase over that same thirty year time period.

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting since prices and interest rates are still at bargain prices.

 
Blog Archive
2019-08-08 09:54:58
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2019-08-08 09:29:32
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2019-08-08 09:28:42
Either Way, You’re Still Paying a Mortgage by Tarik Hall

2019-08-08 09:25:58
Want to Sell Your House? Price it Right! by Tarik Hall

2019-08-08 09:25:19
Freddie Mac: Doubtful Rates Will Return to Recent Lows by Tarik Hall

2019-08-08 09:23:44
Harvard: 5 Financial Reasons to Buy a Home by Tarik Hall

2019-08-08 09:22:38
Millennials: Optimistic & Ready to Buy by Tarik Hall

2019-08-08 09:21:52
Who Says Millennials Are Not Buying Houses? by Tarik Hall

2019-08-08 09:20:13
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2019-08-02 13:01:46
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2019-08-02 12:58:55
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2019-08-02 12:57:33
3 Powerful Reasons to Buy a Home Now

2019-08-02 12:56:26
Mid-Year Housing Market Update: Three Things to Know Today by Tarik Hall

2019-08-02 12:55:32
What Experts are Saying About the Current Housing Market by Tarik Hall

2019-08-02 12:54:21
Is Renting Right for Me?

2019-08-02 12:52:36
The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC] by Tarik Hall

2019-08-02 12:51:13
The Surprising Profile of the Real Estate Investor by Tarik Hall

2019-08-02 12:50:05
What a Difference a Year Makes for Sellers

Click here to see ALL articles.


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