Owning your own home is part of the American Dream. The pride and safety of knowing that you own your home and aren't beholding to a landlord and constantly increasing rents is only part of the reason why owning your own home is something worth considering.
A person who rents their entire life will likely pay the cost of three or four homes over a 60-year time period. Owning locks in housing costs at today's rates. A $2,000/month rental rate today could be $5,000 or more per month when you retire and hope to be reducing your expenses.
When a home increases in value over the years, that equity is part of your wealth when you own the home. When you are renting, you are only increasing your landlord's wealth. Owning your home will allow you to borrow against the inceased value to build more wealth by buying more properties or perhaps investing in a business of your own. You can use the equity to send children to college, pay for a wedding, or take the trip of a lifetime. When you retire, you can then use the home to obtain a reverse mortgage and use the equity in your home to supplement your quality of life.
Our Mortgage Professionals can help you travel that road to home ownership. Give us a call today.
ACADEMY NATIONAL MORTGAGE CORPORATION - NMLSR #191799
SERVING ALL OF COLORADO
Office: 303.987.0622 / Cell/Text: 303.902.0082