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A homeowner may have to wait for a while to sell their house (especially if the neighborhood is no longer as desirable).Overall, renters usually have more flexibility with their living arrangements.
I started my own company, Loewen Clovis Realty, as a way to provide my services for those that need it in the area.
Outside of real estate, I am usually biking around Clovis, hanging out with friends, reading, or attending church functions.
If an owner is hit with a $10,000 roof replacement bill, it could take several years to even break-even with a comparable rental.
Therefore, if a rent rate is similar to a mortgage rate, renting may be cheaper in the long run due to the predictability of maintenance costs (or lack thereof).
Many financial advisors don’t see a mortgage as bad debt, but it is debt nonetheless.
If you really wanted to stay out of debt and avoid the mortgage altogether, renting is your alternative. About Matthew Loewen I'm a real estate broker in Clovis, New Mexico.
It would be comparable to a car salesman convincing you to stick with your current vehicle rather than buying a new one.
But, the truth is, there are a lot of advantages to renting, and I would not be a good real estate professional if I didn’t talk about facets of real estate. If you are new to your career, just arrived to town, still going or just finished college, or if you have a complicated financial circumstance (in the process of divorce for instance), renting may be the better solution for you.
Let’s face it, the United States is in a lot of debt.
There are two ways that a government can pay off debt: inflation of the currency, or stopping the spending and letting the country go into a recession/depression. Renters are not affected nearly as much as homeowners in times of deflation.