Renters...If you don't like rising rents, buy the place and own it forever!

If you are sick of rising rents year after year, and wonder where you will find the money in 10 years because your salary doesn't keep pace with the pace of rent, why don't you think about real estate. Benefits of owning may not be that obvious to the standard person that rents.  However, give yourself a few years of owning, and you will notice something after making all those payments.  Equity!  It's when you owe say $150,000 on a house and the house is worth $200,000 if you sell it.  That $50,0000 difference is equity that has been bulit up in your property.  Guess what?  You'll never get this as long as you rent.  So, what if you say, "that sounds great, but where do i get the money?".  Well, there are many ways to get that money.  Sell one of your cars,  RRSP's, your right rib if you need too?  When you get the money and buy the house, you will be rewarded.  Just make sure it's a good house.  For that, two things you will need.  Find a realtor ready to take care of you, and find a good mortgage agent.  Many run off to a bank that they opened there first acount with. That's great for a bank, but little do you know that you and them are in on opposite teams, not on th same side. Finding a mortgage agent that is on yourside can save you tonnes of money, and many headaches later.  Do this and you will be able to own it FOREVER......!

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Allan Congo

Allan Congo

CENTURY 21 First Canadian Corp., Brokerage*
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