Every year around this time we start thinking and planning for the upcoming year. For some, the goals are fitness oriented, career driven or financial. For a lot of folks, buying homes for sale in South Lake Tahoe may be the goal instead of renting. And for good reason! 74% of renters are planning on purchasing homes for sale in South Lake Tahoe over the course of the next 5 years with half those planning on doing so in the next 2. The reason behind this is because a lot of renters simply don’t like renting. While there are a few perks, like the homeowner being responsible for repairs, most people want freedom where they live. They also want to invest and not throw money away each month on housing when they could be gaining equity. If you are on the line between renting and buying, work with your South Lake Tahoe realtor to understand the benefits. Here are a few reasons to make this goal of buying South Lake Tahoe real estate a reality and not just a dream in 2019.
- Rising rent. Every year when it comes to resigning a lease, your rent usually goes up at least a bit. In fact, over the last 30 years, the median rental rates have steadily increased. When you purchase homes for sale in South Lake Tahoe, you are locking in your rate. Which means you can budget and plan your housing expenses, as well as your future.
- In a resort town like South Lake Tahoe, renting property could result in moving frequently depending on the market. Some homeowners decide they want to take advantage of the market and sell. Others decide they want to use their property for themselves. Or some only want to do a 6 month lease because they come up a lot during certain seasons. This makes it hard to plan for your future and truly settle into a place to call home.
- When you purchase homes for sale in South Lake Tahoe, you are investing in yourself. That monthly mortgage payment earns equity which you can tap into later. You also have the choice to put money back into the property and increase your resale value later on. When you rent South Lake Tahoe real estate, you not only rarely have that option, but you will most definitely not gain from it financially.
Not sure if you qualify to buy South Lake Tahoe real estate? Worried you don’t have 20% down? Your South Lake Tahoe realtor will be able to weigh in on your options, debunk myths, share their preferred lenders and more. If you are looking for a South Lake Tahoe realtor to help you, feel free to reach out. I would be happy to help!
