1. Take Control of your Housing Expense
Landlords can pretty much raise your rent whenever your lease expires and often times by more than you can handle, forcing you to relocate. A predictable home expense will give you stability and control over your housing expense. Consider how much rent costs you over a 10-year period. A $3000/month rental payments will add up to $360,000 over that 10-year period when the same amount of money could have gone toward paying off 1/3 of the debt on a 30-year mortgage!
Owning a home has a high upfront cost, such as a downpayment, appraisal fee, and homeowners insurance. However, over time owning a home is cheaper than renting which is a great benefit.
2. Built Equity through the Forced Savings that…
