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Category: Rent vs. Buy

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Should You Rent Out or Sell Your House?

Written by Key Largo Mortgage Syndicated User on . Posted in For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy, Selling Tips.

Figuring out what to do with your house when you’re ready to move can be a big decision. Should you sell it and use the money for your next adventure, or keep it as a rental to build long-term wealth? It’s a question many homeowners face, and the answer isn’t always straightforward. Whether you’re curious about the potential income from renting or worried about the responsibilities of being a landlord, there’s a lot to consider. Let’s walk through some key questions to ask to help you make the best decision for your situation. Is Your House a Good Fit for Renting? Even...

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Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Buyers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Some Highlights According to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years. That’s because a home is so much more just than a roof over your head. It’s also an asset that typically grows in value over time.  If you’ve been debating if it makes more sense to rent or buy, connect with a real estate agent to talk about why homeownership can be a better bet in the long run. 

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Should I Rent or Buy a Home? [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Some Highlights While renting may be less expensive in some areas right now, there are two big benefits homeownership provides that renting can’t. ? Owning a home means you get to say goodbye to rising rents and hello to stability. It also gives you the chance to gain equity as home values rise over time.  If you’re ready to learn more about the perks of owning a home, connect with a local real estate agent.

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The Perks of Buying over Renting

Written by Key Largo Mortgage Syndicated User on . Posted in Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place. 1. Home Values Typically Go Up Over Time There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below): Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past...

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Is It Better To Rent Than Buy a Home Right Now?

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Tips, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision. What the Headlines Are Based on The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare...

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Why So Many People Fall in Love with Homeownership

Written by Key Largo Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Chances are at some point in your life you’ve heard the phrase, home is where the heart is. There’s a reason that’s said so often. Becoming a homeowner is emotional. So, if you’re trying to decide if you want to keep on renting or if you’re ready to buy a home this year, here’s why it’s so easy to fall in love with homeownership. Customizing to Your Heart’s Desire Your house should be a space that’s uniquely you. And, if you’re a renter, that can be hard to achieve. When you rent, the paint colors are usually the standard shade of white, you don’t have much control over the upgrades, and you’ve...

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Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, Housing Market Updates, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Pricing, Rent vs. Buy.

Some Highlights If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028. Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years.  If you’re worried about falling home prices, don’t be. Many experts forecast they’ll keep rising for years to come. If you have questions, ask a local real estate agent.

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The Dramatic Impact of Homeownership on Net Worth

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

If you’re trying to decide whether to rent or buy a home this year, here’s a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth is almost 40X greater than a renter’s (see graph below): One reason a wealth gap exists between renters and homeowners is because when you’re a homeowner, your equity grows as your home appreciates in value and you...

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How To Turn Homeownership into a Side Hustle

Written by Key Largo Mortgage Syndicated User on . Posted in Demographics, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers, Rent vs. Buy.

Does the rising cost of just about everything these days make your dream of owning your own home feel less within reach? According to Bankrate, many people are seeking additional income through side hustles, possibly to cope with those increasing expenses and save for a home. This trend is particularly popular with younger individuals who may be dealing with student loan debt (see graph below):   Here are two strategies that can not only make homeownership more affordable in the short term, but turn it into a lucrative side hustle that can pay off down the road. Transforming the Challenge...

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Why Homeowners Are Thankful They Own

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Countless people have set out on the exciting journey of homeownership. Ask around and you’ll find the vast majority are thankful they took the leap and bought a home. But why? It’s because of the many emotional and lifestyle benefits that come with being a homeowner. So, if you’re trying to decide if you want to rent or buy a home, here are just a few of the many benefits you could look forward to if you buy. It’s a Safe Haven Owning a home goes beyond just having a roof over your head. It provides a sense of security and safety. In fact, in a survey from Fannie Mae, respondents say “having...

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