I put this picture out the other day and even put home loan preapproval. Boom! Social media exploded with scam. Funny how quick we are to judge these days. So I decided to turn it around and explain a little bit about the real scam, rent!
We were all renters at some time or another. I am sure there is good reason to be a renter, in a place temporarily, don’t want to fix anything, and don’t have money to buy a home. So let’s just address each one of those:
- In a place temporarily – there are motels/hotels for that, usually an apartment is rented for 6 months to one year, and that lease protects the landlord from having tenants change regularly. But ask yourself this, how many times did I get stuck somewhere much longer than I thought? Maybe buying would have made more sense if I had done so sooner rather than later?
- I don’t want to fix anything – not many of us are handymen, so I understand. I hate working on home projects, mine never turn out professionally. So like most homeowners, I pay someone to do it for me. Maybe that’s rare, maybe I am crazy, but I don’t think so. Ask yourself this, aren’t you really doing the same thing when you hope the landlord who you are paying rent to every month spends money on you for maintenance or repairs? Why do you think that’s more secure or a sure thing? There are plenty of people I hear from that say the landlords “don’t fix anything.”
- I don’t have money to buy a home – this is true, and I don’t want to minimize it. As an industry, we trump way too much $0 down, but the fact remains that it might be less than you think is needed. There are SO many down payment assistance options and programs. Then the seller can pay your closing costs. Between the two, there are good ways to get the unicorn transaction, little to no money at the closing table. But just to hammer it in, do you think security deposits (from what I hear you don’t often get them back) and first and last month’s rents, is cheaper, really?
We can debate leasing a car and buying a car all day long. And there are many many arguments both ways. But a home is something very different than a car. A home is in many people’s minds a sense of security, belonging, and stability. It is worth the sacrifice to get in it, worth the sacrifice to keep it, and worth the time to look at your options and leave the rent scam behind…
Start your journey here: http://www.successmortgagepartners.com/corey-vandenberg