There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either your’s or your landlord’s.
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”
Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:
“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
As an owner, your mortgage payment is a form of “forced savings” which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.
Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home.
If you’re looking at buying in North Atlanta – in Suwanee, Duluth, Alpharetta, Roswell, or other North Atlanta area – make sure to use the Todd Lemoine Team search tool to search all MLS listings in North Atalanta. Go to http://www.lemoineteam.com.
Whether you are looking for a primary residence for the first time or are considering a vacation home, now may be the time to buy.
Contact Todd Lemoine and Lemoine Team and we will be happy to review your options and show you properties. Be sure to visit our website to search all homes for sale in Duluth, Suwanee, Alpharetta, Cumming, Roswell and all of North Atlanta real estate: http://www.LemoineTeam.com