Misconception No. 4
It’s cheaper to rent.
The Reality – This may or may not be so. Because of the current state of the housing market, many are foregoing homeownership and turning to rentals. This influx of renters may be having an impact on the supply and demand of rentals and driving rents higher. Most real estate sales associates will have a strong understanding of the rental market in the community and can refer potential buyers to a reputable mortgage lender. It is imperative to ask questions and understand the financial implications and costs of a mortgage.
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