With our current rental market in Eugene at fever pitch, more and more potential homeowners are calling in daily-

“What can I afford?”

“How much longer are these rents going to increase?”

“What’s the hype behind rent or buy- really?”

Let’s talk about it:

Equity: In a sense, paying your mortgage is a form of savings, as it increases the equity in your home. Real estate is an appreciating asset. Every time you make a payment, you are investing in your future. It’s true- you have to wait a little until you see that principal balance going down and less money being paid in interest, and home ownership is not a race (unless you’re an investor- more on that in a future post).

As your home value increases, it is naturally creating equity for you.

USING YOUR HOME TO SAVE MONEY: I get pretty passionate about this- seriously! Many rental companies (not all) have a clause stating that you cannot operate a business out of the home. Say what? That’s right- and did you know that your HOME OFFICE is subject to a tax deduction, along with your standard mortgage interest and property tax deductions? Drop your current lease if possible, and move your office home. That’s double the savings.

Personalization: From paint, to flooring, we all would like our spaces to sing the song of “me”- when you own your home, you can let it sing your song. On the walls, floors, countertops, tile- even a simple doorknocker. Your home is an expression of you, without the restrictions that many rentals put in place.

Homegrown: Our family sets up a garden every year that feeds us through at least two seasons. With canning, vacuum sealing- even simple freezing- we save hundreds on produce every year and enjoy the peace of mind of knowing how our food was treated and processed before harvest.  Have acreage? Several homeowners tend to small groups of cattle, goats. Chickens? Yep- enjoy those, too! Ultimately, this is peace of mind, and savings, for your family! 

Use the rent vs. buy calculator below then give me a call- tomorrow, next month, even this year may not be the right time for you to make your move- and, with the right person in your corner, you’ll know when to take those steps and reap the multitude of rewards that home ownership brings! Your first step begins today- and I SO look forward to our journey!

 

Be blessed my friends!

 

https://www.discover.com/home-loans/rent-buy-calculator/