Owning your own home has advantages, but beware of this common renter’s problem.
As an Agent with almost 25 years of experience, I see this “Renter’s Trap” way too often.
Calling it a TRAP is a little harsh. With that said, many Buyers that I represent in finding a new home fall into this situation too often. If you are counting on your Deposit being returned to help fund your New Home down payment…Pay Attention!!
Here is an Article from the Texas Association of REALTORS® that explains it.
That article really defines the reasons that a Landlord may NOT return your Deposit right away. If you are in this similar situation, I wanted to alert you to what may happen to you also.
I work with many people in the McAllen, Tx and surrounding areas. People who are ready to BUY their first home.
Are you are in a lease with another person?
Are you ready to break away and BUY your first home?
Hopefully, this BLOG POST has helped you avoid a common situation with First Time Home Buyers on using their deposit as part of their down payment.
There is NO better time to buy because Interest Rates are at HISTORICAL LOW Rates now.
Did you know that in 1920, before the Great Depression, Mortgage Rates were at 5.5%. As of today, rates are in the 4’s. They will NOT be there long, and NOW is the time to lock in a FIXED Rates and buy a home. Quit throwing away money every month on rent. Start building EQUITY in your home for the future.