Mortgaged to the Hilt!
No, I'm not, but for a young couple starting out there doesn't seem to be any other way to own a home.
I do believe your home and property are the absolute best investments you will ever make and will eventually build your net worth. Renting a home equals paying your landlords mortgage - now that doesn't make much sense. Why put money in his pocket - start filling your own!
Buying a home and taking out a mortgage of your own will show you positive returns, small though they may be in the beginning. Part of your mortgage payment reduces the amount owed to the financial institution but a large part goes toward interest. As years go by and the home appreciates in value, your equity equates to an increase in your overall net worth.
Pay your mortgage weekly to save interest charges and reduce the amount owed much quicker than paying monthly. Check and compare mortgage lenders rates and terms. Educate yourself before making this huge financial comittment.
Let me know in 20 years how it worked out, okay? I think you'll be glad you took the plunge and bought your own home!
13 comments:
The return is small in the beginning, but it is still better than just throwing away your money on a rental.
One need to be educated before making this huge financial commitment. It will be helpful to the users.
Hmm mortgage is becoming more famous after long time. People started to understand of it.
One need to be educated before making this huge financial commitment. People started to understand of it.
Really more people should get mortgages and stop paying rent so someone else can own the property.
You bring up a great point...while your equity buildup in the beginning will be small, in the long run it will pay off handsomely.
Today's real estate appraisals can be very expensive, however you need to know how much your home and property is worth. Having a real estate appraisal is a good idea when you're about ready to sell your property or after you have had work done on your property such as a renovation or remodeling because this increase the value of your house and property by a significant amount if the renovations or remodeling were extensive.
I think that it will be helpful to the users.
People started to understand of it.
Dont waste your money while paying rents for your whole life,you have a nice solution so go for it.
Owing a home is a keystone of wealth... both financial affluence and emotional security
Go for mortgage cuz you should have some asset for your crutial time otherwise rent will eat you like termites.
Home is life for peoples
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