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Showing posts from 2015

Myths BUSTED about buying a home

Courtesy of The Chris Fritch Real Estate Team ~ Anoka County Residential Real Estate Specialists Myth #1 - "It's Cheaper To Rent Instead Of Own" If you buy a property that is within your budget and your mortgage terms allow you to make comfortable monthly payments, the cost of rent can often be higher than mortgage payments. Sure, there are other expenses associated with owning a property that you wouldn't be responsible for if you were renting, but one thing that many people forget is the fact that renting does not allow you to build equity. The ability to build equity into a property that you own is like paying into a savings account, if you buy a home for $200,000, and pay down your mortgage to $175,000 in 5 years, you'll have $25,000 in home equity that can be tapped into later if you need a lump sum of cash to pay for other large expenses. Myth #2 - "The Perfect Home Is Out There - I Just Have To Wait For It" Buyers have a tendency to focus to…