There are new rental properties advertising their Grand Openings every week in south Florida. Their TV commercials and online ads look so attractive, with beautiful pictures of beautiful people living beautiful lifestyles!
Renting does have a few advantages:
Renters don’t have to worry about fixing the dishwasher or the a/c if it breaks. Of course, you are at the mercy of the landlord on when it gets fixed and by whom.
Renters can leave at the end of your lease and move someplace new. You’ll probably also have to argue with the landlord over returning your deposit and waiting forever to get it.
Renters don’t have to worry about interest rates going up or property values going down. Interest rates have never been lower, and rental rates in south Florida have gone up every year since 1979.
Renters get to write a check to their landlord every month, making their bank account nice and fat. Owners get to watch their equity grow every month.
On second thought, we can’t think of any reason for renting!
People have excuses for not picking up the phone and calling a mortgage loan specialist: Bad credit, no money for a down-payment, or they think they can’t afford the monthly payments. The truth is that there are loan programs for people with low credit scores and loan programs for people who don’t have a lot of money for a down payment. Monthly mortgage payments are often lower than rent, and property values in south Florida are rising.
Writing a check for your mortgage payment will be a happy task, knowing some of that money is coming right back to you. Stop making your landlord wealthy, and start investing in your future!
Call me at 954-734-4440 – 7 days a week.