Why Give Away Thousands In Rent When You Can Own The Easy Way - Get a Rent to Buy House?
Many people are seeking the opportunity to buy their own home but not everyone can do so, and have to rent instead!
Updated:
19 March 2009
Dear Home Seeker
We all know how it feels to rent!
When socializing with friends or family the uncomfortable questions
always arise... "Is this your own place?" and your reply is "no, but we
aren't ready yet..." or "no, we really want to buy but we are waiting
for the perfect place.."!
We all know that when you rent you cannot modify the home as you would
like to, what's the point really. You may even have a pesky landlord
irritating you and frankly you are losing money every month.
There are many reasons for not buying a house let's face a few BIG
reasons like...
- You cannot afford to pay those huge transfer fees and bank charges!
- You may not have a big enough deposit that the banks require of you for the
house!
- You may not be able to afford such high repayment costs
even!
"Renting may be cheaper NOW but soon you will realise that you are losing hundreds of thousands and still own nothing!"
There are many strong
arguments for renting and against buying and vice-versa that may show
favour for both points of view that no one can deny! In both fighting
corners we have seemingly strong opponents but my question to you is what if you could have the
best of both worlds and rather 'rent to buy'?
The case about whether you
should rent or buy is one that will never end!
If you are
currently paying rent then you may be thinking that to buy
is pointless as you are saving thousands of rands because
you do not have to service a bond at the moment! Your argument may be
that if you opt to buy that you would be paying many
tens of thousands more a year just because you are
servicing a bond.
This argument may seem to make a lot of sense NOW,
however if you stay in that same unit and rent for more
than a few years you are likely to realise that your
friends who decided to buy their house are possibly close
to being on par with you in monthly payments AND they may have even a
fair bit of equity (indirect saving) in the property too!
"If you rent your landlord is likely to increase your rent every year
by 8% - 10% or more!"
Rent increases at inflationary
rates so
before you know it your original saving on paying out rent is eaten
away by inflation!
If you do
an assessment based on today's rent prices vs. buying a house it is
easy to calculate and see that rent is cheaper than the bond, BUT the
lag of time with inflation is what will prove you wrong that you would
have saved tens of thousands had you purchased many years back. Even
though it may take some time the growth difference is huge.
If you wish to know more about this then read more about this in the
Rent or Buy a House article.
But before you do...
"Would you like the opportunity to be able
to buy the house of your dreams
the easy, affordable way?"
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Why
Give Away Thousands In Rental When You Can Own - Rent To Buy?
If there was someone willing to give you the opportunity to buy instead
of renting would you consider this option? At least inform yourself of
the possible options as a renter just in case.
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