Austin, Texas is one of the most outrageous markets in the U.S. for renting. The average rent in Austin has gone up over 70% in the last 10 years and it doesn’t look like this trend is going to end any time soon. If you can afford to pay rent in Austin, chances are you can afford your own home.
In reality, you are throwing money away while you rent. You might as well be depositing your paychecks into your apartment complex dumpster instead of your bank accounts. In Austin you can almost guarantee that your rent will increase every time your lease is up.
When you own your own home you typically are on a fixed payment for 30 years. Think you can find a rental property anywhere in this universe that will not raise your rent in 30 years? In Austin it seems like rent goes up every 30 seconds.
While landlords and apartment complexes are raising your rent are they upgrading your unit to justify the increase in rent? While you stop laughing, think about this. Let’s say your complex raises your rent 5% every year (that is a modest figure). If you owned your own home and were on a fixed payment for 30 years you could theoretically increase your payment 5% each year also but instead of putting it into your old landlords thick wallet you put that additional money in your own savings account. If your mortgage payment is $1000, you would have put away $600 in the first year! Keep increasing that like the landlords and apartment complexes do and just think of the upgrades you could do in 10 years!
The truth is, you can buy a lovely home, in a great neighborhood, for zero or a very low down payment, and enjoy monthly payments of LESS than rent.
We specialize in helping people who are currently renting to own their own lovely homes with super-low down payments and low monthly payments.