Houston’s Rental prices keep Climbing Higher – now is the time to Buy a New Home.

Did you see the recent article in Houston’s Business Journal about rental, apartment rents will continue to climb even higher next year?  If you rent or have lately you know that costs have skyrocketed out of control & are only projected to climb higher.  A lot of it is our local economy – which is going strong, but keeps bringing in new people to fill various positions throughout the city so the demand stays up.

 

Click on this link to read a little more about Houston’s rising costs associated with renting.  http://www.bizjournals.com/houston/news/2014/11/21/report-houston-apartment-rents-will-continue-to.html?iana=ind_rre  Now maybe the time to look to purchasing your new home; there are still many good homes, prices and builders that will work with you – while interest rates at still at historical

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lows.  You can purchase now – lock in your rate for the next 15-30yrs and not have to worry about the fluctuation of rental prices over the next few years.

O’ yea one great tip – we’ve all heard about paying extra mortgage payment or x amount per month.  Try to pay say $5,000.00 a year (one time or spread out) to the principal only.  Depending on the amount of your mortgage you can easily cut 10-15 years off your payments.  *Do the math in one of those quick calculators you find online.  And if that seems like a lot of money to you, pay it with your bonus or income tax/other – this way your not taking it out of your monthly checks.