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Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

Thursday, April 12, 2018   /   by Chad Schwendeman

Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

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There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to 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’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

To schedule a hassle-free Home Market EvaluationCLICK HERE

With over 20 years’ experience, I can help you determine the current market value of your home, lake cabin or lake home, or land and implement a marketing plan designed to trigger buyer excitement and entice top dollar offers. If you are buying, I help you find access to financing, ensure you don’t overpay, and help ensure the home you decide upon meets and exceeds your needs today and in the future. For Brainerd Homes for Sale, Gull Lake Homes for Sale, Lake Homes for Sale in Brainerd MN, Homes for Sale Brainerd, Gull Lake Cabins for Sale, Gull Lake Property for Sale, Lake Homes for Sale in Minnesota, don’t hesitate to contact us today!

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

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Chad Schwendeman
7153 Forthun Road, Suite 120
Baxter, MN 56425
218-851-8550


The Chad Schwendeman Real Estate Group is the ultimate destination for those looking to buy or sell their homes and have their properties evaluated. The Brainerd real estate website provides solutions to a wide array of realty needs. When you are looking for a condo, duplex, single family home, or townhouse, you can find it all quickly and efficiently when you work with us.



The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Exit Lakes Realty Premier are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright 2020 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated September 27, 2020
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Chad Schwendeman Sites are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2020Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated September 27, 2020
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