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Posts from October 9th, 2018

Griffith Realty

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October
9

Escape the Rental Trap
Are you caught in the rental trap? If you are dreaming of buying your own home instead of renting, you might be unable to see a clear way to get there with the ever-rising cost of rental payments. 

So how does one escape this trap to begin paying off their own mortgage instead of your landlord's current mortgage? It might not be as hard as you think. Our REALTORS® offer these four ways to start saving to buy one of our Brighton homes for sale.

  1. Work to reduce your current housing bills
    Ideally, you should be spending no more than 30 percent of your income on rent. If your current rental is eating up a higher percentage of your income than it should, consider a less expensive place. While downgrading may mean living with fewer conveniences and/or in a less desirable area, it could help you save for a down payment on a home of your own. Lowering your rent-to-income ratio can also help you create a more stable financial profile for yourself, which can be helpful when it comes time to apply for a mortgage loan.

    Click Here to Read More...

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