Stop Paying Rent - You Can Own Your Home
Are you tired of making your landlord wealthy? If you are paying rent every month, that is exactly what you are doing! However, like most renters you probably feel stuck in a home that isn't even yours simply because you can't save up that down payment for your own home.
| Year | Monthy Rent | Total Annual Rent |
|---|---|---|
| Ten Year Total: | $140,777 | |
| 1 | $1,000 | $12,000 |
| 2 | $1,035 | $12,420 |
| 3 | $1,071 | $12,855 |
| 4 | $1,109 | $13,305 |
| 5 | $1,148 | $13,770 |
| 6 | $1,188 | $14,252 |
| 7 | $1,229 | $14,751 |
| 8 | $1,272 | $15,267 |
| 9 | $1,317 | $15,802 |
| 10 | $1,363 | $16,355 |
*average rent increase of 3.5% per year.
Over the last ten years, the cost of rental housing has increased an average of 3.5% per year. If that trend continues, that means that an apartment or home renting for $1,000 per month will cost more than $1,300 a month in ten years. If you rent the same home for ten years, the total amount you would pay for rent will equal $140,777!
You Can't Afford NOT to Buy a Home!
We all have the same dream: to stop renting and own a home instead. However, if you are similar to the typical renter, you might feel stuck in an apartment that never truly feels like your own. Indeed, it is difficult for an apartment to really feel like your own when you are forbidden from customizing the space to suit you. You might even have to consult your landlord before hanging a picture or painting a wall.
Home ownership has many significant benefits over renting, particularly the ability to own and have control over your own residence, while building equity in an important investment.