There are some people that have not purchased a home 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 your mortgage or your landlord’s.
As a recent paper from the Joint Center for Housing Studies at Harvard University explains:
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
Also, if you purchase with a 30-year fixed rate mortgage, your ‘housing expense’ is locked in over the thirty years for the most part. If you rent, the one guarantee you will have is that your rent will increase over that same thirty year time period.
Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting since prices and interest rates are still at bargain prices.
So you’ve found the perfect home and you are ready to make an offer. Are you pre-approved? The following are 2 very respected loan officers in the Hendersonville TN community that can assist you with that. You can contact Craig Sanders at F&M Mortgage (615)498-5626 or Carolyn Cole at Reliant Bank Mortgage (615)943-1982.
Located in Sumner County, 18 miles NE of Nashville & 20 miles from Nashville’s International Airport, Hendersonville has become one of Tennessee’s fastest growing communities. Movoto Real Estate ranked Hendersonville as #5 in their 10 best suburbs in the country. Click here for current listings in Hendersonville TN.Tina Redding, Realtor, EXIT Real Estate Solutions, 103 Hazel Path Ct, Suite 2, Hendersonville TN 37075Cell (615)268-5985/Office (615)826-0001/Email firstname.lastname@example.org/homesbytinaredding.com
Each office owned and independently operated Serving all of your Real Estate needs in Middle TN