When trying to decide whether to rent or buy real estate in Redondo Beach, consider the many financial benefits that come with owning a home.
When Renting:
- Landlord’s wealth grows.
- Monthly payment goes up each time a lease is signed or renewed.
- Rental price appreciation pinches the wallet and has no financial reward.
- With rising rent cycles, saving for a down payment is more difficult.
When Owning:
- Wealth is built for the homeowner.
- Monthly payment is locked in for length of loan, usually 15-30 years.
- Home appreciation and equity built equals increasing investment wealth.
- Equity wealth and net worth can fuel purchase of next home.
If weighing options, remain mindful that owning a home has considerable financial rewards.
Connect today with Dennis Hartley to learn more about the perks of owning a home in Redondo Beach.
Photo by chris robert on Unsplash
