03 Jun, 2020
A general assumption is that if you can get a mortgage that is equal or less than your current rent, you should buy. But, this is not an equal assessment of the true cost. A homeowner has a mortgage payment, which is often compared to rent but shouldn’t be because it’s made up with a combination of interest payments and principal payments. Instead, you need to understand the total costs involved by identifying the unrecoverable cost of renting, and the unrecoverable costs of buying, as well as the opportunity cost. Sooner or later, everyone settles down, and if you make a smart decision now, you’ll be way ahead of the game later. Click Here to download our guide that explains the differences. Contact us today to help you find a new home, be it rental or purchase - we've got you covered!