Rent or Buy: Either Way You’re Paying A Mortgage

There are some renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either your mortgage or your landlord’s. As The Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return.   That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” Christina Boyle, a Senior Vice President, Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent: “With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.” As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity. The graph below shows the widening gap in net worth between a homeowner and a renter: Bottom Line Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting.   I’m an expert in providing a rent vs buy comparison to any possible leads looking to buy.    Let me help you make three to four more sales this year. WillTveit.com  |  BUY - SELL - RENT - INVEST  |  Will@DreamTown.com WillTveit.com  |   BUY - SELL - RENT - INVEST  |  Will@DreamTown.com

New Year, new home? Are you looking to BUY, SELL or INVEST in real estate in Chicago or the North Shore? Please provide me with your contact information. Thanks! Will

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The  New  York  Private  Residences
For Rent - Efficiency | $1,400/month

The New York Private Residences | Chicago

The New York Private Residences | Chicago

WillTveit.com

$1,400/mo, St/1Ba Condo, 600 sqft.

Will Tveit | Dream Town Realty | 312-498-8348 3660 N Lake Shore Dr #3712, Chicago, IL 60613 Exquisite studio/efficiency with VIEWS from the 37th floor; includes built-in Murphy bed! St/1Ba Condo $1,400/mo Year Built 1981 Sq Footage 600 sqft. Bedrooms Studio Bathrooms 1 Bath Parking None Lease Duration 1 Year Pets Policy Cats & Dogs OK Laundry Shared Floor 37 Website www.WillTveit.com DESCRIPTION Fantastic views from high floor in one of E.Lakeview's best buildings! Functional layout, 4 closets, REAL hardwood floors, renovated kitchen w/ granite & stainless, private balcony w/ endless vistas of Wrigley Field, skyline and city lights. Built-in Murphy Bed, freshly painted plus additional storage locker on-site. Bldg has 24hr door staff, dry cleaner, market, bike room, huge laundry facility, 2 party rooms + a roof deck featuring BBQ grills & stunning views. Easy access to lakefront and all transportation. Assessments include heat, AC, water, cable AND Internet! Garage parking usually available to rent from other owners. ALL CREDIT APPROVALS MUST BE RUN BY DREAM TOWN REALTY! The New York Private Residences | Lakeview - Chicago  Chicago see additional photos below Unit Features - Living room - Dining room - Range / Oven - Refrigerator - Dishwasher - Microwave - Garbage disposal - Stainless steel appliances - Freezer - Balcony, Deck, or Patio - Heat: forced air - Central A/C - Double pane / Storm windows - High-speed internet - Hardwood floor - Granite countertop Community Features - Elevator - Secured entry - Controlled access - Doorman - Near transportation - Clubhouse - Barbecue - Business center - Off-street parking - Covered parking - On-street parking - Garage - Attached Terms Rent includes Cable TV, Heat, Water, Scavenger, Doorman, Exterior Maintenance, Lawn Care, Storage Lockers, Internet Access. The New York Private Residences is a very well-run building with incredible views, stellar location! Parking avail for rent from other owners in building. $50 credit/application fee, $300 non-refundable fee in place of security deposit, plus $250 non-refundable building fee. ALL CREDIT APPROVALS MUST BE RUN BY DREAM TOWN REALTY! ADDITIONAL PHOTOS Contact info: Will Tveit Dream Town Realty 312-498-8348 Posted: Dec 22, 2015, 9:59pm EST