Stop Paying Rent
I was a renter for many many years. It can be tough to get out of. Sometimes financially it is not possible. Other times mentally due to increased responsibility or possibly being away from the property for extended periods of time. Renting can be a convenience and it also can be a headache with a lousy landlord or property manager. Living where things are run down, broken, or just not being repaired is a struggle and stressful.
As a renter there is no equity building. Unlike owning a home where you can sell the property to get back some of the money. And down the road possibly do a reverse mortgage in later years to live on.
Before you consider owning as not being possible. Take a step back, STOP listening to other people. STOP imagining, creating your own scenarios, and go out and get the FACTS! It’s possible that with some management on your part possibly right now or in the next year or two you could be out of the renters rut.
Find a lender. Tell the lender you want to be Pre Approved (not pre qualified). The lender will go through all your income and debts. Looking at tax returns and statements. When the process is over, possibly in 3 days or less. You will know exactly what you need to do if you did not qualify. Ask the lender why you do not qualify, or if you did but its to low ask what you need to do to improve it. It may be as simple as paying off debts or possibly 2 years of stable or higher income.
Please Contact Rich Noto Winter Garden Florida Realtor with any questions.
Here is a great list of homes in Winter Garden 34787, Windermere 34786 and Orlando 32826 Florida. This price range is a great for getting out of being a renter.
The idea is to purchase a home that will have a mortgage payment similar to the current rent.
Other towns in Florida will have lower priced homes that may be more affordable. Contact Rich Noto For More Information and Lists.