(760) 622 5087 fakri@fakrizubek.com

“Should you buy?” is a question on the mind of many first-time buyers these days. The Short answer is YES.


When you are renting, you can move whenever your lease is up. To do any modification to the home, you have to get permission from the homeowner/property manager. The same is true when something needs work. Also, your rent can increase from time to time. When you own, you can do everything you want. If you did the smart thing and got a permanently fixed-interest rate loan, your payment will never increase.


One thing you can count on when renting: the rent you pay is money that’s gone forever. When you have a mortgage, part of your monthly payment goes towards paying off the loan. This portion automatically becomes your part of the home. The part of the home you own is called equity. With every month’s payment, you are increasing your equity in the home.


Even while you have a mortgage, the home is usually appreciating. Some years it will barely appreciate, maybe even lose some value. Most years it will appreciate. A few years, it will appreciate rapidly. 2021 is a case in point. So far this year we are seeing double digit rates of appreciation. A “normal” year will see appreciation of 3% to 6%. Appreciation when you are renting is not something you want as it means paying your landlord more money.


Renting gives you the illusion of the freedom to choose where you live. This illusion is dispelled when you reach your 60s and thinking of retiring. You find you still have to pay rent. Your counterpart who chose the stability of a permanently fixed-rate mortgage is about to pay off their mortgage and will have their own home without a monthly payment. They will also have a huge asset they can tap for living expenses even while they keep the roof over their head. They will tell you that they really do feel free…because they are.

So, should you buy? The thing to be pondered here is why didn’t you buy already?

To get started on the home buying journey, contact me at 760 622 5087 or fakri@fakrizubek.com , you will be amazed at all the different ways you can buy a home even with all your circumstances.

Buy now