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    Renting or Buying… Either Way You’re Paying a Mortgage

    Renting or Buying… Either Way You’re Paying a Mortgage | MyKCM

    There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

    As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”:

    While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

    Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

    “With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

    As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.

    Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.23% last week.

    Bottom Line

    Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now is the time to contact Roseburg Properties Group and start the search for your new home! 541.371.5500 or sold@marygilbert.com.

    By: KCM Crew

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    Mary Gilbert

    Mary Gilbert, Licensed Realtor in Oregon has distinguished herself as a leader in the Roseburg OR real estate market. Mary assists buyers looking for Roseburg OR real estate for sale and aggressively markets Roseburg OR homes for sale. Mary brings with her a keen eye for the details of buying or selling a Roseburg OR home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Mary Gilbert of Keller Williams Realty Umpqua Valley will help make the most of your Roseburg OR real estate experience. Give her a call today, 541-371-5500, and discover the difference she can make during your family's move.

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