Ouch! The Real Cost of Renting is Lost Equity & Retirement Security
Posted
by Mike Askins
on Saturday, September 8th, 2018 at 3:41pm.
The numbers above don't take into consideration rising rent costs over time. When you buy you lock in your cost basis, and begin to reduce the balance of your loan with each passing month. For most people, every year you put off buying, is one more year you'll have to work to pay off a home before you retire. I think we all can agree that time is the one fixed parameter in life, that you can't redo, and that makes every year an important year for paying off your home before your retirement.
Mike Askins, Realtor, Owner ARG, 20 Years of Client Services Got questions for Realtor Mike? Call me at 214-727-3686 (mobile)
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The numbers above don't take into consideration rising rent costs over time. When you buy you lock in your cost basis, and begin to reduce the balance of your loan with each passing month. For most people, every year you put off buying, is one more year you'll have to work to pay off a home before you retire. I think we all can agree that time is the one fixed parameter in life, that you can't redo, and that makes every year an important year for paying off your home before your retirement.