{"id":3852,"date":"2021-11-15T05:00:37","date_gmt":"2021-11-15T11:00:37","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/4-things-every-renter-needs-to-consider\/"},"modified":"2021-11-15T05:00:37","modified_gmt":"2021-11-15T11:00:37","slug":"4-things-every-renter-needs-to-consider","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/4-things-every-renter-needs-to-consider\/","title":{"rendered":"4 Things Every Renter Needs To Consider"},"content":{"rendered":"

\"4<\/p>\n

As a renter, you\u2019re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership<\/a> every renter needs to consider.<\/span><\/p>\n

Here are a few things you should think about before you settle on renting<\/a> for another year.<\/p>\n

1. Rents Are Rising Quickly<\/strong><\/h4>\n

Rent increasing each year isn\u2019t new. Looking back at Census<\/em><\/a> data confirms rental prices have gone up consistently for decades (see graph below):<\/em>\"4<\/a>If you\u2019re a renter, you\u2019re faced with payments that continue to climb each year. Realtor.com <\/em>recently shared the September Rental Report<\/em><\/a>, and it shows price increases accelerating from August to September (see graph below)<\/em>:\"4<\/a>As the graph shows, rents are still on the rise. It\u2019s important to keep this in mind when the time comes for you to sign a new lease, as your monthly rental payment may increase substantially when you do.<\/strong><\/p>\n

2. Renters Miss Out on Equity Gains<\/strong><\/h4>\n

One of the most significant advantages of buying a home is the wealth you build through equity. This year alone, homeowners gained a substantial amount of equity, which, in turn, grew their net worth<\/a>. As a renter, you miss out<\/a> on this wealth-building tool that can be used to fund your retirement, buy a bigger home, downsize, or even achieve personal goals like paying for an education or starting a new business.<\/p>\n

3. Homeowners Can Customize to Their Heart\u2019s Content<\/strong><\/h4>\n

This is a big decision-making point if you want to be able to paint, renovate, and make home upgrades. In many cases, your property owner determines these selections and prefers you don\u2019t alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own.<\/p>\n

4. Owning a Home May Provide Greater Mobility than You Think<\/strong><\/h4>\n

You may choose to rent because you feel it provides greater flexibility if you need to move for any reason. While it\u2019s true that selling a home may take more time than finding a new rental, it\u2019s important to note how quickly houses are selling in today\u2019s market. According to the National Association of Realtors<\/em><\/a> (NAR), the average home is only on the market for 17 days. That means you may have more flexibility than you think if you need to relocate as a homeowner.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Deciding if it\u2019s the right time for you to buy is a personal decision, and the timing is different for everyone. However, if you\u2019d like to learn more about the benefits of homeownership, let\u2019s connect so you can make a confident, informed decision and have a trusted advisor along the way.<\/p>\n

Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"

As a renter, you\u2019re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before you settle […]<\/p>\n","protected":false},"author":1,"featured_media":3853,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-3852","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"\n4 Things Every Renter Needs To Consider—NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/4-things-every-renter-needs-to-consider\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 Things Every Renter Needs To Consider—NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"As a renter, you\u2019re constantly faced with the same dilemma: keep renting for another year or purchase a home? 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