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Lake County Illinois Real Estate: Why You Should Stop Renting and Buy Today!

Lake County Illinois Real Estate: Why You Should Stop Renting and Buy Today!


There are many people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home.

Housing Cost and Net Worth

Whether you rent or buy, you have a monthly housing cost.

As a buyer, you are paying YOUR mortgage.

Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.”

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The principal portion of your mortgage payment helps build your net worth through building the equity you have in your home.

As a renter, you are paying YOUR LANDLORD’S mortgage.

Below is an example of the home equity that would be accrued over the course of the next four years if you were to buy a home by the end of this year; based on the results of the Home Price Expectation Survey. Home Equity Over The Next 4 Years | Keeping Current Matters In this example, simply by paying your mortgage, you have just increased your net worth by over $34,000!


Bottom Line

Use your monthly housing cost to your advantage! Meet with a local real estate professional who can explain the opportunities available in your market.

Click here to search Lake County Illinois Homes for Sale.

Jim Starwalt

Thinking of making a move?

Log onto my website at www.StarHomeTeam.com and search Northern Illinois Homes for sale.

Easily search Northern Illinois Homes for Sale with photos, open houses and virtual tours at StarHomeTeam.com

Jim Starwalt, Broker Owner
Better Homes and Gardens Real Estate Star Homes
Phone: 847-548-2625
Jim@StarHomeTeam.com

Find Me Online

      


Lake County Illinois Real Estate: Why You Should Stop Renting and Buy Today!

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