Why rent when you can own?
Over the past couple of years there has been much talk about home ownership losing it’s luster and asking the question if it is better to rent than own a home at this point. Today, I want to share with you 11 reasons to own a home:
1. Build Equity – Homeowners build equity with each mortgage payment and their property appreciates in value over time.
2. No return – Paying monthly rent provides a roof over your head, but nothing more. Renting is a terrible investment.
3. More Space – It’s incredible how little you get for each dollar spent on rent. Most renters are lucky to have even a tiny balcony, let alone the roomy closets, storage space or a yard that a home can provide.
4. Upgrades/Improvements – Most leases forbid the renter from altering the rental space. A home owner can upgrade or make improvements to their liking. Paint the walls any color you wish!
5. Pets – Renting with pets can be a major financial undertaking. Rental availability and expensive pet deposits with additional monthly premiums can be a problem, but not for homeowners.
6. Noisy Neighbors – Blaring music at 4 a.m., wild partiers in the apartment next door or fitness gurus doing jumping jacks above your ceiling can be annoying. Noisy neighbors are reason enough to own a home.
7. Landlords – Dealing with a landlord can be tough, especially if they are inflexible, or so distant that problems with rent or appliances don’t get resolved for months or even years.
8. Hobbies/LIfestyle– Drummers and musicians need a place to live, but do you want them living in the next apartment over from you? Renting just isn’t an option for people with noisy hobbies or professions.
9. Security Deposits – Security deposits never seem to work out in the renter’s favor. Many times at lease end every little problem seems to lead to a forfeiture of some or all of your security deposit.
10. Value- In today’s market, timing could not be better- Housing Values and low interest rates provides for incredible opportunities
11. Live the American Dream – Investing in Your Community. The sense of accomplishment that owning a home brings is an essential part of the American dream and a fulfilling lifestyle choice. Does renting an apartment do the same?
St. Louis MORTGAGE INTEREST RATES for March 16, 2011:
- Conventional 30-Year Fixed 4.750%
- Conventional 15-Year Fixed 4.125%
- Conventional 5/1 ARM 3.50%
- FHA/VA 30 Year Fixed 4.750%
- Jumbo 5/1 ARM 3.375%
- Jumbo 15 yr Fixed 4.125%
- Jumbo 30 yr Fixed 5.250%
Paramount Mortgage is a locally owned Mortgage Banker; we just celebrated our 40th anniversary. Great rates and programs are secondary to what is most desired in a lender relationship. The most sought-after aspects in this industry cannot be easily translated onto paper…learn more about us here.
For more information or if you have questions on mortgage rates you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.
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