Today we are going to discuss why renters are continuing to lose ground in today’s real estate market. There are some interesting trends at play here that you should be aware of.
Rental properties are not going down on a monthly basis, they are only going up in price. Instead of papering the pockets of your landlord with rental money each month while helping them develop their equity. It may be time for you to start thinking about developing some equity of your own, and saving on your income taxes through a mortgage interest rate tax deduction.
The second point I have for you is that you will either spend more and get less as time goes by, or if you choose to be a homeowner, you can take advantage of that equity and an appreciating market, which is a huge financial benefit over time.
After 28 years in the business, we are always open and willing to chat about your specific situation. If you have any questions for me, give us a call or send us an email. We would love to hear from you!