Too many people waste their time and money purchasing homes. If you're looking for an effective way of investing your money, and getting higher returns, you really shouldn't be looking to purchase homes. One of the most uncommon strategies known is that renting your property is actually considerably cheaper than buying a property. Thirty years down the line, you will own your property if you buy it, but you've spent so much over the years maintaining it that you would have saved more money renting a property.
If you rent out a typical property on the market valued at $650 per month, you can expect to pay $650 per month or $750 per month with utilities. However, if you're purchasing a similar home within the same price valuation, you'll be spending upwards of $1500 per month. The reason is because when you own your home, you're responsible for all of the maintenance that needs to be carried out. From boilers breaking down to tax and insurance, every single month you will be spending big amounts of cash just to keep your property manageable. Not to mention the fact that you're also paying interest on the mortgage you took out from your bank.
With rented properties, you are only paying the monthly rent. Your landlord is responsible for all house work. They are responsible for fixing smashed windows, broken boilers, damp and anything else that you would otherwise be responsible for. By renting a property, you'll gain access to money quicker - because you're effectively saving money every month. You can then turn the money you save into a real investment opportunity Whether you're investing on the stocks and shares market or simply looking to buy a business, it's well understood that people who choose to rent their properties will be able to invest stronger and harder than people who are purchasing their homes.
For incredible information on how to achieve financial freedom by waiting to buy a home, go to www.home-mademillionaire.com
Patricia Hansen will be doing speaking engagements in November and this information will absolutely blow you away! There is plenty of information for free, and you won't be disappointed. Check out Home-Made Millionaire on Facebook, too!