2017: THE YEAR OF THE HOMEOWNERSHIP
Did you know that the national average rent paid at the beginning of last year was $950 per month, and that by the end of that year in December, just about a week or two ago, the average rent went up to $1040 per month. That means the average renter saw their housing cost go up by $90 a month, or over $1000 a year.
That’s a lot of money down the drain and chances are rents will continue to climb.
At the same time, those who bought homes using 30 year fixed rate loans at historically low rates had no increase in their payment, because that rate is fixed until the loan is paid off, and then it just goes away.
Further, homeowners across the country saw their home values increase in almost every market, while those renting gained no equity whatsoever.
The point is this, if you’re a renter, let’s have a conversation to see if homeownership is in your future.
If you own your home, do your friends and family a favor, forward this video along to those who rent so they might fix their housing costs and begin to gain wealth through homeownership as well.
Thank you and make it a great 2017.