The only one who benefits from a rent check is the landlord. Renters never see that money again, while homeowners usually profit when they sell. In addition, renters can't use any of their rent payment as a tax deduction, like homeowners can. If you or someone you know is renting, it's time to put that rent check to better use!Can A Renter Really Afford To Buy?The real question is whether renters can afford not to buy. The tax savings alone make the purchase of a home a wise financial decision..Pick A LoanTo take advantage of the financial benefits of homeownership, renters must first find out how much buying power they have. We can help. Call us for information about the whole range of mortgage options now available, including low- and no-down-payment loans, and programs that allow buyers wrap home-improvement costs and closing costs into the mortgage.Plan AheadAlthough some lenders allow buyers to use up to 41% of monthly income to purchase a house, beware of becoming "house rich and cash poor." Be sure to budget for homeownership costs beyond the mortgage, including expenses for:movingdecorating and furnishinghomeowners insuranceproperty taxeshomeowners association fees (if any)utilities-power, water, sewer, cable, trash pick-upyard tools, supplies and general upkeephome repairs, supplies, cleaning and upgrades.Today, homeownership is a wonderful dream-come-true for more people than ever before. Let us help turn those dreams into a home to be proud of.
