Are You Still Renting In Portales?

Are you still renting? If so, you're losing money. Besides losing out on the money you could be making with real estate, the satisfaction of being able to own a home and make it his or her own is one renter’s do not get to experience. If you're still renting, we have affordable homes for sale in Portales, contact us today.

Why pay for someone else's mortgage payment?

If you rent you are missing out on the opportunity to generate income as the property increases in value. The economy has picked up and the past five years houses that previously decreased in value because of the recession have now increased in value. While renters cannot freeze their monthly housing expenses, home buyers can.

While it is true that homebuyers commonly get adjustable rate mortgages it which the payments go up or down payments on their mortages will not increase as much as what a renter will pay year to year for renewing their lease. Just think about how much an apartment costs today compared to ten years ago. A two bedroom apartment in Portales leases for $1,000 today. The exact same apartment rented for $325 in 1996, when it was brand new. Home buyers who had low monthly payments in 1996, who did not refinance their mortgage, enjoy low payments and don't have to worry about rising rents.

Renters don't get tax deductions. Home owners get income tax deductions. Tax deductions for interest costs, for instance, save tax payers thousands of dollars.

Besides losing out on making money with real estate, renters don't get the same satisfaction of home enjoyment that benefits home buyers. Renters are typically not allowed the walls, add pools decks or make other improvements that would add value to a non-rented property. Also, you won't feel like fixing up the property with custom window coverings and you get little say in flooring materials. Because you can't make your personal statement, you won't feel like you're HOME as much as home owners who feel emotionally connected to their property.

How to Buy Your First Portales Home

The challenge to home ownership is often coming up with the funds for a down payment. People think they have to have thousands of dollars for a down payment. However, if you have good credit and a decent job, you can get a mortgage for a home with zero down. Some of the closing cost can also be financed as well. With today's mortgage finance plans, you may be surprised to find out how much of a home you can afford with payments similar to what you currently pay in rent.

Portales is a great place to buy a home, you can purchase a home in Portales for much less then you can in other major cities in New Mexico. That's why so many people commute, after finding affordable housing costs lowered in outlying areas. Perhaps your monthly rent is only $1,000 and houses cost less than $200,000. Talk to us today to see how much of a home you can afford. If you're renting, make one of your priorities to buy your own Portales home.