Monday, February 19, 2018 / by Carl Gentile
Whether You Rent or Buy, Either Way You're Paying a Mortgage
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:
As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity. Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week. Bottom LineWhether you are looking for a primary residence in Jupiter, the Palm Beaches and the Treasure Coast for the first time or are considering a vacation home on Jupiter Island or Palm Beach, now may be the time to buy. Browse all active MLS properties in Jupiter, the Palm Beaches and the surrounding Treasure Coast at www.MyPalmBeachHomeFinder.com |