There several advantages in purchasing a home, and one of the top advantages that you must consider it for, is how it can protect you from the rising rental prices that will prevent you from getting out. According to an article by Apartment List the national rental index has been increasing 0.1% each month, presently on the sixth month of its trend, which translates to an anticipated 1.2% growth annually. These further result to financial burdens among numerous renting households that are spending 30 to even 50% of their total household income for rent.
From this perspective, home ownership proves to be less inexpensive compared to renting, especially in the largest metro areas. However, home buyers hold back from making a move on their envisioned dream home believing that they would need a large amount for down payment, even without considering how much they can save for the down payment in less amount of time through several options open for them depending on which area they are that they would even realize that they actually have enough.
Don’t prevent yourself from owning a home with the rental traps. If you are ready and willing in purchasing a home, call us at (704) 237-0313. We’ll help you determine how able you are in getting your new home.
Source: Keeping Current Matters