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Are You Paying Someone Else’s Mortgage?

Most renters say they love renting because when the faucet is leaking they call the landlord, air-conditioning not working? Call the landlord. Most people don’t think about the fact they are paying someone else’s mortgage.  The best part about renting is not having to worry about the upkeep and maintenance of a home.


Is it better to rent or buy a house? That’s a question virtually all adults ask themselves at one point or another, and especially around this time of year, as some people consider their goals and plans for the year ahead. So before you answer the question, here are some other questions you should ask yourself first.

Buying and owning your own home can be a very rewarding experience if you are properly prepared, know what to expect and make the right financial decisions. There are several advantages to homeownership, but it comes with additional responsibilities and potential risks as well.

  • You can take pride of homeownership.
  • You may have some tax benefits.
  • Your monthly payments will remain stable.
  • You have the opportunity to create equity and stability.

The median sales price in Sacramento County is 227,000

  • Average monthly rental price: $1,580
  • Average mortgage payment: $1,172

The median sales price in Placer County is 340,000

  • Average monthly rental price: $1,580
  • Average mortgage payment: $1,756

Although the rental price is lower in Placer county the tax write offs would easily offset the cost of renting.


Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas according to Trulia TRLA -8.21%’s latest Winter Rent vs. Buy report. Rising mortgage rates and home prices have narrowed the gap over the past year, though rates have recently dropped and price gains are slowing. Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus being 44% cheaper one year ago.

Even though prices increased sharply in many markets over the past year, low mortgage rates have kept homeownership from becoming more expensive than renting. Also, in some markets, like San Francisco and Seattle, rents have risen sharply; rising rents hurt affordability relative to incomes, but rising rents make buying look cheaper in comparison.

Stop paying someone else’s mortgage! Contact us today to chat about  your options to buy!




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