Here Is Why Renters Should Get Serious About Owning Their Homes

Posted by Staff Reporter on Aug 05, 2019 03:34 AM EDT
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Here is Why Renters Should Get Serious About Owning Their Homes (Photo : pexels)

Buying a home is a major financial step and long-term commitment. Owning a home is the quintessential American Dream, but aside from the feeling of pride it brings, there are plenty of practical reasons to purchase a home.

Consistent Housing Payment

The biggest cost to budget for in your personal life is likely your housing payment. Being a renter means you are at the mercy of your landlord's lease agreement, and rents tend to rise annually.

With a fixed-rate loan, your monthly mortgage payment will be the same amount every month. Knowing the monthly bill is going to stay the same every month for years to come is a huge relief and makes budgeting for the future much easier. 

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