Build Your Equity And Not Your Landlords If You Are Buying A Home In Houston TX

Dated: 02/04/2019

Views: 52


Whose Mortgage Do You Want to Pay? Yours or Your Landlord’s?

Whose Mortgage Do You Want to Pay? Yours or Your Landlord’s? | MyKCM

There are some people who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

With home prices rising, many renters are concerned about their house-buying power. Mike Fratantoni, Chief Economist at MBA, explained:

“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we do expect to see a solid spring market.”

As an owner, your mortgage payment is a form of ‘forced savings,’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.

As mentioned before, interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.46% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy. Give us a call today.


Image title


Click Here...to view all homes for sale in The Houston TX area and surrounding cities. Best Priced Properties Team "Clients First" Russell and Melissa Banki REAL ESTATE EXPERTS- Hite Properties Certified Negotiation Experts (CNE) Accredited Luxury Home Specialist (ALHS) Certified Home Selling Advisors (CHSA) Certified Home Buying Advisors (CHBA) Certified Expert Home Selling and Buying Advisors. Ask us about our Smart Home Buying and Selling Strategy. CALL OR TEXT. cel 713-480-0889 or 936-445-0216. As local real estate Montgomery County Real Estate Experts in The Woodlands, Spring,Shenandoah, Magnolia, Montgomery, Conroe and Greater North Houston/Houston TX Metro areas we can save you valuable time & money! Contact us today. We want to earn your business and help you achieve all of your real estate goals. It would be our pleasure to help you with all your residential/commercial buying, selling or investment needs. We believe our clients should feel confident and benefit from selling or purchasing real estate. Be sure and ask us about our buyer and seller promotions for February. 

Blog author image

Russell Banki REALTOR® ALHS CNE

Russell Banki ALHS, CNE REALTOR Hite Properties Cell: 713-480-0889 Best Priced Properties Team Montgomery & Harris County TX Real Estate Experts Clients First!Treating the relationship with f....

Want to Advertise on this Site?

Latest Blog Posts

Clean Pristine On Oversized Culdesac Lot With No Back Neighbors

Clean & PristineENERGY EFFICIENT 1 story home on an HUGE OVERSIZED CUL-DE-SAC lot with NO BACK NEIGHBORS in the desirable subdivision of Hidden Creek in Conroe! One of the fastest growing cities!

Read More

2 Acre Lot Just Off Grand Parkway In Tomball 0 Hampton Wood Dr Tomball TX 77377

$139,900 RARE FIND! Fantastic LOCATION and opportunity to own and build your dream home on! Per restrictions an add apt or duplex. Min 1500 sqft. Privacy all around area. Wooded &

Read More

JUST LISTED In Cumberland Crossing Porter TX 19111 Shire Horse Blvd

Fantastic 2 STORY on CUL-DE-SAC lot in the desirable community of CUMBERLAND CROSSING ready for it's new owners! ENERGY EFFICIENT! Home features 4 bedrooms 2.5 baths, flexible bonus loft space

Read More

Happy Client Just Closed On His Cleveland TX Home

Congrats to our clients who just closed on their very first home in Cleveland, TX! So MANY new memories to be made! We don't mess around and get to work right away for our clients making

Read More