Yesterday, the Atlanta Journal-Constitution wrote THIS ARTICLE about how rent is increasing in the metro-Atlanta area. The reason? A combination of an increase of regular renters and also the people who got really bad interest-only loans at the peak market and lost their homes. They are moving into rentals while they try to rebuild their credit, which can take up to 7 years.
The demand for rental units is increasing very quickly. Landlords are able to not only be more choosy about their tenants, but also charge more for the units. Many people pay more for a rental than they would their own mortgage. Not only are they paying more for housing per month, but they are also not getting great home owner tax benefits.
Owning a house is a responsibility not to be taken lightly and it certainly isn't for everyone. What holds some renters back from taking the plunge into home ownership can be as simple as not knowing how to plan for it.
If you think you may be ready, I can talk with you and help you assess whether you should try to stop paying someone else's mortgage and start paying your own. If you are not prepared to take that next step yet, I can put a plan together for you to show you what you can be doing now to work towards that end.
The rents are going up and the cost of houses are going down. If you've ever thought about buying, give me a call today at 770.862.8002 and we'll talk it over.
Michael Bradford, Associate Broker
Southern Prime Realty
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