If you’re moving into a larger space, your newfound freedom can feel fantastic—more room for everyone to laugh, play, cook—everything. It also comes with some strings attached.
Are you ready for a heftier mortgage payment each month, and have you evaluated all the financial effects of upgrading? Are you, or you and your family, ready to take care of more property—that includes maintenance, move-in costs, etc.? These are all things to sit down and think about before you take the plunge.
Just because you’re moving into a smaller space doesn’t mean that you’re downgrading your quality of life. In fact, you might be upgrading—with less space, you don’t have to worry about repairing parts of your home, maintaining a big yard (or any yard!), or shoveling so much money into the mortgage.
Of course, having less space is exactly how it sounds—less space. Are you okay clearing out some of your belongings or dealing with less home storage space? Do you mind that Scruffy doesn’t have as much room to run around? Although a smaller space can be more financially and physically manageable, you’ll want to be sure you’re also aware of the drawbacks.
Whichever option you’re considering, contact the The Realty Billings Team—we’ll assist you through every step of selling your current home and looking for a new one. That’s what we love to do!
Wouldn’t you rather buy your own home than to throw your hard-earned money into buying investment property for your landlord? Even if you don’t consider earned interest or investing, this is the cash that you could be putting into someone else’s pocket— $360,000—with no return for you.
$1500/month for 5 years - $90,00025%
$1500/month for 10 years - $180,00050%
$1500/month for 15 years - $270,00075%
$1500/month for 20 years - $360,000100%
Contact The Realty Billings Team, and stop buying property for your landlord!