Things to consider before buying or refinancing your home.
Should You Buy a Home?
Yes! Yes! Yes!
Don't take my word for it, CHECK IT OUT!
When
your buy a house a monthly mortgage serves as a type of scheduled savings
plan. Over time, you gradually accumulate what lenders call "equity",
an ownership interest in the property that can often borrow against or convert
into cash by selling the house.
In contrast
renters MUST continue paying rent to a landlord for as long as they
rent, WITHOUT OPPORTUNITY TO BUILD UP EQUITY!
BELOW IS AN EXAMPLE OF WHAT THE LANDLORD GETS VS WHAT THE HOMEOWNER WOULD GET OR MORE.
| MONTHLY RENT | AFTER 3 YEARS | AFTER 5 YEARS |
| 800 | 28800 | 48000 |
| 850 | 30600 | 51000 |
| 900 | 32400 | 54000 |
| 950 | 34200 | 57000 |
| 1000 | 36000 | 60000 |
| 1050 | 37800 | 63000 |
| 1100 | 39600 | 66000 |
| 1150 | 41400 | 69000 |
| 1200 | 43200 | 71000 |
Owners also get tax benefits!
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Windsor Capital Mortgage Corporation
| 130 Iowa Lane, Suite 203 | Cary, NC 27511 |
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