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Category: Rent vs. Buy

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Buying a Home May Help Shield You from Inflation

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

It feels like everything is getting more expensive these days. That’s because inflation has remained higher than normal for longer than expected – and that’s impacting the costs of goods, services, and more. And with rising costs all around you, you’re probably questioning: is now really the right time to buy a home? Here’s the good news. Owning a home is actually one of the best ways to protect yourself from the rising costs that come with inflation. A Fixed Mortgage Protects You from Rising Housing Costs One of the key benefits of homeownership is that when you buy a home with a...

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The Big Difference Between Renter and Homeowner Net Worth

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

Some Highlights If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership. Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s.  Connect with an agent if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.

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Renting vs. Buying: The Net Worth Gap You Need To See

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

Trying to decide between renting or buying a home? One key factor that could help you choose is just how much homeownership can grow your net worth. Every three years, the Federal Reserve Board shares a report called the Survey of Consumer Finances (SCF). It shows how much wealth homeowners and renters have – and the difference is significant. On average, a homeowner’s net worth is nearly 40 times higher than a renter’s. Check out the graph below to see the difference for yourself: Why Homeowner Wealth Is So High In the previous version of that report, the average homeowner’s net worth was...

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Buying Beats Renting in These Top Cities

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 Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment. Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up.  This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in your area, connect with a local agent.

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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?...

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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...

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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...

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