Is Renting the New Buying?

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Renting vs. buying, this seems to be the debate of the millennial generation. To rent or to buy; that is the question…

We’re going to look at why purchasing your first home might save more money than you thought in the long run. It’s time to pay off your own mortgage instead of someone else’s.

Are you ready to buy?

It’s important to know when you’re ready to buy a home, because if you rush the process without being financially set, you may dig yourself into a hole. First off, you’ll have to have the money for a down payment, and 20 percent is often the preferred payment for the best rates, but some loans offer rates as low as 3 percent! This is why it’s helpful to shop around for the best price or to let mycommodo.com do the shopping for you! You also have to pay your monthly mortgage payments. This is another big financial step because you need to make your monthly mortgage payments on time to show your reliability.

So, there are many financial considerations to be cognizant of before you purchase your first home, but you can also speak to someone at mycommodo.com to answer or discuss any of your questions, fears, or worries. Here is a renting vs. buying calculator to help you make your final decision easier, but, after the years of payments, buying will always be the smart solution and investment in the end.

Using mycommodo.com to Find the Best Rates

As they say, when you’re renting a property you’re usually helping someone else pay off their mortgage. Why not find out the best rates out there and pay something of your own off? Your money will be invested into the property of your dreams, while the value of the house increases over time.

Start the course and use mycommodo.com to speed up the mortgage process using our online portal, uploading your documents directly through your smartphone, tablet, or computer. We’ll find you the best rate by reducing the commissions our agents receive from the lender in return for a lower interest rate. Find your dream mortgage and home today!

 

Sources:

 

http://www.zillow.com/home-buying-guide/rent-vs-buy/

http://www.zillow.com/rent-vs-buy-calculator/