If you are on the cusp of becoming a home owner, you may be dragging your feet and not sure you are ready for the responsibilities of home ownership. After all, renting gives people flexibility that may not be available when it comes to owning a home. If you are thinking of buying South Lake Tahoe Real Estate, one of the best things to do is talk to a local South Lake Tahoe Realtor. They can tell you what the average sold prices are, what the market looks like, which loan may be the best fit for you and over all what to expect from the process. There are a lot of people who count themselves out thanks to myths associated with buying, such as you need to have a certain amount to put down or a certain credit score to apply. The folks at Keeping Current Matters put together this graphic that easily breaks down owning your own South Lake Tahoe Real Estate and Renting.
When you rent a home, you are paying someone else’s mortgage and not building any of your own personal wealth. This means, while your landlord is making money off of you living in their investment, you are basically throwing that money away each month when you could be putting it towards your own future.
Renting and owning both have spendy upfront fees. When you buy, you put that money towards your future. When you rent, you may or may not get that money back after the lease is up.
When you rent, you have no control over the state of the house you are renting. Sure when you own, you are responsible for all the fixes and repairs, but as a renter, you may not be able to have a pet, change the paint colors, garden or be stuck with furniture you don’t want.
If you are interested in looking at South Lake Tahoe homes for sale, feel free to give me a call. As an established and local South Lake Tahoe Realtor, I would be happy to explain the process, give you lender information and show you homes for sale within your budget.