It’s true that owning your own home has many advantages and benefits. Avoiding rising rental costs is one of the main benefits that stands out.
The cost of renting is going up across the nation. According to ConsumerAffairs “The cost of putting a roof over your head continues to go up. Not only are home prices still rising, but the cost of rent rose 0.5% in June.” The Joint Center for Housing Studies at Harvard University’s 2017 State of the Nation’s Housing Report also noted that “Renters continue to be more likely to face cost burdens…the number of cost-burdened renters (21 million) considerably outstrips the number of cost-burdened owners (18 million) even though nearly two-thirds of US households own their homes.”
What many people don’t realize is that with a 30 year fixed rate mortgage, owning a home can be cheaper than renting. Many people are under the impression that they can’t afford to buy a home because they haven’t saved enough money for down payment, or they don’t have good enough credit. But you never really know until you thoroughly investigate the options. If you’re considering buying a home in Albuquerque, give us a call and let a professional help you determine if you’re in a position to own your own home and not get stuck in a rental trap.
HOT HOME LISTING OF THE WEEK!
10 Cinco Circle, Placitas, NM $550,000
5 Bedrooms/ 5 Bathrooms (1 full, 4 partial) / 4015 Square Feet
Enjoy the extraordinary views from this spacious home, featuring 5 bedrooms, 2 living areas, and more. Treat your guests to the upstairs bed with en suite bath. Entertain in style with the spacious kitchen that opens into the great room.
Contact the Sandi Pressley team for additional details!