Rent vs. Buy: Are You Suffering from the Fear Factor?

"Too many of us are not living our dreams because we are living our fears." —Les Brown

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I want to help you to realize your dreams of homeownership.  The biggest fear I had to overcome and dismiss was the fear of the unknown:  "whether or not I could handle it with three mouths to feed."  Something about motherly instinct which makes you think again and again before embarking on something that may affect the welfare of your children.  

After I purchased my first home I wondered why I waited so long.  Why did I wait until I was thirty to buy my first home?  There are so many resources available, so many people already in the home ownership club.  I had a role model in my own mother who purchased her first home after she was divorced.  She is still in that home today.  I can only imagine what her market rent would be in the same neighborhood.  The best analysis I ever performed was a rent vs. buy analysis. It's a great tool to look at when you're debating whether or not to take the plunge. 

I look back at renters who said they never wanted to buy a home who later ended up buying a home, rental property, and then became investors.  They let their investments be the backbone of them fulfilling other lifestyle and business dreams.  

It made me realize with some things the grass is greener on the other side.  Collecting rents versus paying rent to someone else is an accolade within itself.  Investing your hard earned money into something you can call your own makes working to pay for it that much worthwhile.

There are a lot of homes on the market today where the cost to purchase may be substantially less the monthly rent expense for a comparable property.  A lender could assist you with making that determination.  I can put you in contact with a lender.  Just call me.  I would welcome the opportunity to sit down with you and do a rent versus buy analysis.  Or, you can contact me and I will send you an analysis you  can complete yourself.

Now fast forward nineteen years from when I purchased my first home and the fear factor is am I nagging and pushing too hard for my daughter to buy a home.  She says "Look Lady!".