Milestone Germantown MD | Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for. 

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.  

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.  

Today I would like to talk to you about  Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

 

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. 

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: 

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else 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: 

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.” 

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 Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

 

Source.. KCM Fernando Herboso Blog

 

To protect your interests and assure that you make the best possible decisions, 

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market. 

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed, 

and the most updated strategic view for your home purchase in Germantown Maryland 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com 

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