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Keller Williams Realty Chesterfield - Theobald Realty Group Blog

Wednesday, August 21, 2019   /   by Erin Cambell

Renting Vs Buying

A friend of mine finally called me to get help.  She had been renting for several years and wanted to know what steps she needed to take to buy a home for herself.  She had asked me a few questions over the years, but never really took action. Every year she would complain about how much money she felt she was "throwing away" on rent, but waited until her lease was almost up and then felt pressured to sign another year lease. I was so happy that she trusted me to help her.
The first thing I asked her was how much rent she was paying a month. I knew that there were homes she could purchase and pay the same amount for a mortgage. I told her it would be beneficial for her to make mortgage payments and build equity on a home that she owns rather than pay rent and never see that money again. 
The first couple years you own a home, a lot of your payment goes towards the interest on your loan. After a few years you will start to see that you have built some equity. When you g ...

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