I remember when I was a young lass of maybe, I don’t know, 22 and I bought my first house. Total mystery. I had no idea of where to start. I finally found a Realtor (wasn’t even sure where to look) and I got my first education in financing a home. Specifically, rent vs. own.

I had to do math. I compared renting vs owning over a 30 year period, the amount of time a mortgage is usually calculated. If you have a 600k house (don’t we all), after 25 years, your value is worth 900k plus tax benefits, rent income if that’s something you’re interested in, and more buying power.

If you are renting that same house, your value would be 432k with nothing to show for it. Renting makes sense sometimes but almost never. (just saying)

Homes have an historical appreciation of 3% so a 250k home would be worth more than 337k in 10 years. If it was 1%, it would go to just 276k. Either way, I see money signs.

We’ll talk about loan programs another time, but for now, let’s make the decision to buy instead of rent.

There is no denying that even with the meltdown, real estate has consistently performed better than any other asset type in the last 30 years.

Call me and we can talk in greater detail about this. It’s not my usual model home stuff, but you need to know this before we start looking for your new home.