Somebody Else Owns The Home You Are Living In | Real Estate
Someone Else Owns The Home You Are Renting
Owning a home is still the American Dream. Renting is easier, but let's remember, somebody else owns the home you're renting. You are helping them achieve the American Dream and that's awful nice of you...but don't you want to achieve your own dream? You think that by renting you are saving money? You aren't. You are just paying someone else's mortgage, or at least part of it.
Wouldn't you rather invest that rent money into your own home? Let us assume that the average rent in a San Antonio Texas neighborhood for a 3 bedroom, 2 bath home is $1000. Over the period of one year (12 months), you have contributed $12,000 to a person's, whom you probably don't even know, future. Last time I looked, $12,000 isn't chump change. You have saved them not only paying their own mortgage, but on taxes as well. The mortgage interest they pay (you pay) on the home, they get to claim as a deduction at the end of the year on their taxes. There aren't any tax deductions on mortgages for renters. The homeowners also get to take more of a deduction because that home is a rental and they can claim depreciation on their asset, (their asset, not yours).
Honestly, since the concept of home ownership was brought to my attention, I always thought it was better. I am taking money that I would be using for rent anyway and applying it or investing it into my own future. I love other people, don't get me wrong. I just don't see why I should be helping them achieve the American dream of home ownership and not helping myself.
You have to live somewhere and nine times out of ten, you are going to pay someone...might as well pay yourself. With home prices being at an all time low, the massive amounts of available San Antonio Homes for Sale and the ridiculously low interest rates, if you are able, it just makes sense to own your own home.
Call or email us today for a free estimate on what it might take to help you achieve your own American Dream. Chrissy@CastlesByChrissy.com or 404.925.5335.