Long Beach Real Estate Podcast with Tim Majka

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Today we are going to look at a dilemma that many people face at one point in their life: whether to rent or whether to buy a home. In our opinion, buying a home makes more sense than renting, for a number of reasons.

One of the best reasons to buy is that owning a home is a hedge against inflation. When you buy a home with a fixed-rate mortgage, you don't have to worry about your payment changing at all during the life of your loan. You don't get that same guarantee that rent will be the same over that time. Even if rent just went up by 5% per year, your payments would be doubled in just 14 years.

Another thing buying a home does is give you the opportunity to build a nest egg. When you rent, you are paying rent to your landlord and that money is going towards their mortgage. When you own your own home, you are paying off your mortgage every month, and eventually, if you keep making payments, you will own the property free and clear.

These are just a few of the top reasons why many people choose to buy instead of rent. I hope this gave you some valuable information. If any questions come up, feel free to give me a call or send me an email. I look forward to speaking to you!