You’ve been renting for several years now. You like the location, don’t have any maintenance to worry about, and you’re working out four days a week in the fitness

center. On the flip side… your neighbors are obnoxiously loud and think playing PS5 is a contact sport. Your place is so small that half your stuff is in storage, and you

just found out that your landlord is jacking up your rent…AGAIN. Sounds like it’s time to stop paying a landlord and start building equity in a home of your own. It all starts with a mortgage.


Let’s talk numbers. Check out how much equity (your money) you could have been earning if you owned a $300,000 home instead paying $2,000 in rent each month.

These materials are strictly for educational purposes only and are not intended for use by or distribution to consumers as advertising. It is not an advertisement; as such term is defined in section 1026.24 of Regulation Z, which implements the Truth-in-Lending Act. Homebridge Financial Services, Inc. 194 Wood Avenue South, 9th Floor, Iselin, NJ 08830. Corporate NMLS #6521.



Rent payments have skyrocketed…and it’s going to continue.


Home prices have been dramatically increasing over the past two years, and landlords have been more than happy to keep up the pace as well. From 2017 to 2022, the

average yearly increase in rent was 5.77% nationwide, with the biggest increase being 14% in 2022. With interest rates still on the rise, you can bet that rental prices will

continue to follow suit. Don’t get caught with some ridiculously high rent payment when you could be building equity in a home of your own.


Do you know the 5% rule of renting vs. buying?


This is a quick and easy way to put the whole question of rent vs. buy into perspective. Simply calculate your breakeven point by multiplying the value of the home by 5%, then divide that number by 12.


If your monthly rent is below this breakeven point, then it makes financial sense to rent. If your monthly rent is higher, then you should to start shopping for a home.


Now, if your monthly rent is above your breakeven point, but you’re still not convinced you should buy, then let me put it into more perspective for you.


Mike’s Top 10 Reasons for Buying a Home:


Establish a monthly payment – A fixed mortgage payment means a consistent monthly payment amount for the life of the loan. No more having to worry about your landlord increasing your rent whenever they feel like it.


Build equity – Every payment, home improvements and market-related appreciation means more equity for you. Plus, inflation adds value to your home in the form of appreciation. Remember, equity is your money and it’s awesome!


Access your equity – Tap into your home’s equity with a home equity loan or line of credit (HELOC). You can use it for home improvements, to pay off debt, cover the cost of a wedding, a decked-out motorhome to travel the country in style, or anything else you want to use it for.


Tax savings – Yes, you heard that right. You can claim your mortgage interest payment on your tax return and pay less to the government. Woo hoo!!!


Creative freedom – Redecorate and remodel when you want and how you want. No more having to get your landlord’s approval to do something as simple as paint a wall, even if you want it yellow with purple polka dots.


No pet restrictions – You can have any pets you want…and never have to pay a fee or be restricted to the size dog you can have. (So yep, bring on the Great Danes and Bull Mastiffs😊)


No pesky lease rules – “Away with you and all your rules, landlord!” It’s your home, you can do whatever you want with it! (I mean, within reason, since you’ll probably have a Homeowners’ Association and can’t completely go crazy.)


Stability and sanity – Never have to worry about your landlord selling the property or deciding to stop renting to you. Unfortunately, this happens all too often in high-demand markets. Gotta love landlords!


Privacy – Enjoy the peace and quiet of having a home of your own. No more having to deal with the guy upstairs doing the Riverdance on your ceiling.


Possible investment – If you ever decide to move, you can keep your home as an investment property and rent it out (for enough to cover your mortgage payment, if you have one, and more). And just like that…you get to be the landlord. 😊


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