Is this the thought in your head all the times? Should I rent or buy? With the low mortgage interest rate ever and expensive rental environment, it could make sense for you to purchase your dream home.
This is a rent vs buy calculator that you can compare the costs of renting vs own a home.
Owning a home is longer term investment. Besides the possible appreciation on your property, you also have tax benefits as a home owner. When you retire, your home could be a source of your retirement income as well, by taking a reverse mortgage.
We will discuss more on different tax benefits as home owner and reverse mortgage on our other posting.
* Message from your Real Estate and Mortgage Broker, Andy Lam, firstname.lastname@example.org, 408-218-2513