Does renting a home really constitute ' throwing your money away'?
Not everyone can afford to own a house or property. I hear from renters that sometimes they feel like they're missing out, that they're subsidizing their landlord's retirement fund instead of lining their own nest. Well, yes and no. Every situation has unique circumstances.
Please watch this eight minute video. It does a great job in explaining the math, and describing the outcome of renting for 25 years vs owning a home for 25 years. It even incorporates a number of variables such as, moving every 10 years as an owner, and investing savings at average rates of return as a renter.
Spoiler alert, for those that don't have the time to watch; for the most part, home ownership wins over a 25 year period. If a few variables change with individual circumstances, the gap is not so large.
Your house-apartment-condo-townhouse is your home. Whether your a renter or a homeowner, it's the safe place where you can snuggle in and rest your head at night.
If renting or owning, we can help guide you through the process and arm you with the knowledge necessary to make the right next step. Just give us a call.
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