Have you ever wondered where your rent money goes? It is obvious the rent money goes directly to the owner of your rental but what do they do with it?
That money goes to create equity in the home you live in, their equity. You are paying down the owners mortgage (if applicable), you are making it easier for them to sell that house for a profit.
What if you did that yourself? Often times people have the misconception that a mortgage costs more than rent and often times these people are very wrong. In this short blog you will see how you can own a home, create your own equity and may even qualify to get into that home for NOTHING down.
I had a client recently who had the scenario below. They moved to Florida from another state and intended on staying in that rental for several years (3 to be exact) before buying a house.
When we looked at their $1500/month rental we determined their annual rent was $18,000. If we multiplied that $18,000 times the 3 years they wanted to occupy the rental it would equal a total of $54,000. In other words, this couple would be giving this homeowner $54,000 toward their mortgage to create $54,000 of equity in the owners home. Think about this one, by paying that owner over 3 years, it is the equivalent to taking the $54,000 out of your bank account on day one of your rental and burning it. Yes, light it on fire because your $54,000 has gone to someone else for their profit, not yours. Sure, you have a roof over your head, but does this makes sense?
My clients friends came down on vacation and started looking to purchase a house, however, my original clients ended up finding a beautiful brand new home listed for $259,000, after long negotiations, my clients ended up purchasing the home for $232,500 with all of their closing costs paid with a VA loan, ZERO DOWN, NOTHING PAID AT CLOSE, SIGN AND GET YOUR KEYS. The best thing about this scenario, their monthly payment, including principal, taxes, insurance and HOA dues, $1500. Now that $54,000 is going to pay off THEIR home and when they sell, it will be THEIR money.
All situations are not like this. If you are looking for a payment less than $1500, this is also very easy. We can make almost anything happen. With interest rates lingering around 3.75%, now is the time to consider to stop paying for your landlords mortgage for their benefit, purchase a home for yours.
EXIT Realty Champions', Champions Gate Real Estate Office, by Reunion Resort Orlando, is a full service Real Estate Brokerage Office in Champions Gate, Davenport 33896, next to Reunion Resort in 34747. Search for homes for sale with our Realtors, local experts in Champions Gate, Reunion Resort, Kissimmee and Davenport FL. This being the main area for resort vacation homes that can be rented out to meet the Disney World Orlando>, Universal Studios and other theme park market.
Alternatively, if you are looking for a new place to live, Our Realtors can help you find the perfect home in the Orlando, Kissimmee, Davenport, Clermont area known as the Four Corners, where Osceola, Lake, Orange and Polk Counties come together, Next to Disney and the Theme Parks.
EXIT Realty Champions' Realtors in Champions Gate, have a cutting edge Digital Marketing Strategy to help you sell your home for top dollar available in today's demanding market.
Rest assured that EXIT Realty Champions will Champion your housing needs, whether buying or selling one of the biggest investments you have, your home.