Buying is better than renting! Our experienced mortgage lender in Osage Beach, MO is here to showcase a few of the many reasons why buying trumps renting, even in the current real estate market. Buying a home at Lake of the Ozarks is a great way to invest in your future. If you are interested in getting out of the rental cycle, Team Lasson is here to help!
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Renting is Typically More Expensive
The point of renting out a property is to pay the mortgage plus make a little money on top of that. That means as a renter, you are paying someone else's mortgage plus some. With all things being equal, it's a cheaper monthly payment to buy vs rent.
Budget Friendly Payments
In the short term, rental rates can change with little notice from the landlord, making it hard to budget. This can lead you to move more frequently as you find a place that is cheaper to rent. A mortgage payment is a consistent payment you can confidently budget around.
In the long run, all mortgages have a term in which the property is paid off. If you stay in a home for the duration of the term, you own the home outright. That means you won't have a mortgage payment and one of your biggest living expenses is gone! If you're planning for the long term, investing in a home is the way to go!
Invest in Yourself
Purchasing a home is an investment in your future. As a homeowner, you're building the equity in your home with each monthly payment you make. That means you are slowly building your personal wealth over time.
Provide Stability
Renting often leads to moving frequently. Moving from rental to rental is costly and provides minimal stability. Stability is not only important for adults, but also vital for children. It is a key factor for success in the classroom. If you have children, it is important to provide a stable home environment for them to set them up for success!
As you can see, there are many reasons why buying a home at Lake of the Ozarks is better than renting. If you are ready to chat about your home buying options, give Team Lasson a call at (573) 746-7211 or visit our website at www.yourlakeloan.com!
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