RE/MAX agent Yvonne Russell

Why Are You Making Your Landlord Richer?

The National Association of Realtors just released an interesting article about how "renters are feeling the squeeze" in their wallets as rental rates continue to rise faster than household income.

Here are some of the most basic reasons why you should now consider new home ownership versus renting in the El Paso, TX.

1. Historic Low Mortgage Interest Rates

With mortgage rates below 4%, and from a historic prospective, these El Paso mortgage rates are historically low, so take advantage of them.

2. Multiple Loan Options to help you qualify

Lenders can help you find the right loan option. From low down payment, even 0% down options for VA and USDA. Lenders also offer low closing cost loan options to help reduce out of pocket expenses. Russell Realty has lenders who can help you today.

3. Opportunity to Build Equity While Paying Off Your Mortgage

You can't pay anything off unless you take the steps towards home ownership. If the goal is to get debt free, then paying the landlord is only putting off your home ownership goals.

4. Stable Monthly Payments

Landlords have been raising rent rates up to 4% per year. But locking in a fixed mortgage payment makes more sense. Over time you are building equity as your mortgage shrinks.

5. Tax Benefits

Renters forego this tax benefit but Home owners can deduct mortgage interest and property taxes.

6. Getting Rid of the Landlord

What a headache to say the least from decoration restrictions to pet restrictions, you're constantly walking a fine line. The landlord seems to want to show up at the worst of times and worse than that, show up unannounced. On the other hand, homeowners are free to do as they wish, including having a home office which can further reduce your tax bill.

7. Best of all, Russell Realty believes in home ownership so much we are willing to put our money where our mouth is. Ask about our Home Buyer Rebate.

 

We will help you with finding a new home, give you advice about your purchase, new home upgrades, lot selection, lender and even insurance companies to consider. Contact Yvonne Russell today!