Described as single and self-sufficient, you live quite contentedly in a rented apartment and earning an above average salary. You’ve bypassed all offers for buying your own home for one reason or another. If this is you, then you probably can identify these excuses for not purchasing your own property.
It’s Less Costly to Rent – On the contrary, the amount of rental you are paying can already pay for mortgage somewhere in the country. Primaryresidentialmaryland.com recommends contacting a reliable mortgage company and asking for recommendations, along with their payment packages. See for yourself how much money you’re throwing away on something you won’t ever own. Besides, even if your property does depreciate, you can still sell it for a certain amount — and you can never do that with a rental.
No Maintenance and Taxes – Of course, you won’t see those because your landlord gives a monthly price that encompasses all of that and more. The mortgage, realty tax, and upkeep fees are all added into your rent. This is then divided into monthly increments, and that’s not counting the landlord’s profits. If they decide not to renew your contract with them, you will be paying extra for moving and finding a new place. Why not buy a house and avoid these problems?
Complete Freedom – Worried about your out-of-town trips? That’s easy. Rent your house to a friend or relative and let them have their holiday, while you have yours. With a rental, you need to pay your rent with or without you there. If you leave without notice, you are most likely to find a new tenant in your house. Besides, if you want complete freedom to renovate then you will need to own the property.
Do you still see renting as the better choice? Now that you are still young, have no dependents to build up, and can afford to pay for a home of your own, it would be crazy not to consider the possibilities.