Here’s an astonishing fact for you: according to Zillow, last year 43 million renters spent over $535 billion on rent. That’s a lot of money going to waste when it could have been building equity for those renters; if only they owned real estate in Gilbert. This astronomical amount only points to a trend that was published in the Wall Street Journal recently. Real estate agents in Gilbert explain that the article stated that rental amounts in 2015 increased faster than they had in the previous seven years and that the amount of the increases had also grown. So, what exactly does this mean for renters?
With mortgage rates at historic lows and real estate prices in Gilbert expected to increase, now is definitely the right time to buy a home. Why continue to pay rent that pays down someone else’s principal and builds their wealth when you could be doing that exact same thing for yourself? With real estate prices in Gilbert on the rise, now is a great time to buy and build your equity as you pay down the principal while the value of your home increases.
If you’re tired of paying rent that seems to always be increasing and want to start building your own wealth, get in touch with a real estate agent in Gilbert. Find out what it takes to qualify for a mortgage and see what you need to do to stop paying down your landlord’s principal and instead invest in your own piece of real estate in Gilbert. We guarantee you won’t regret having a place to call your own while you build your own wealth.