The burden of rent is greater than you may think. Landlords rent homes to make a profit. When market conditions are right, they stand to make even more money simply by following the herd. Here in San Diego county, as in much of California, we have not seen anywhere near enough construction of homes.
This is true across the board from houses to large apartment complexes to smaller apartment buildings. Indeed, during the boom the approach was to convert apartments to condominiums creating a shortage of apartments. Then during the subsequent recession, investors bought up foreclosed homes and rented them out. This step alone caused monthly payments to increase the burden of rent. The pressure continues to build as construction woefully under delivers and more people move to the area. The Navy expects to move 15,000 families to the area as we increase our presence in the Pacific.
Getting Ahead Of The Rent Curve
With rent increases currently averaging 9% and pay increases currently averaging 2.6% it does not take very long to see why you may feel like it is harder to get ahead in life. The only way to stabilize the cost of housing is to get into fixed monthly payments. However, it is nearly impossible to save money when you put so much of your pay into keeping a roof over your pay. Fortunately, there are those who are thinking of ways to avoid a full-blown housing crisis.
Help Is Now Available
Instead of working harder only to pay your rent, now you can get help with the down payment and the fees involved. There are a variety of funding sources from the cities, the county, non-profit organizations etc all intent on helping people become homeowners. Some of these are loans and some are grants that you do not pay back. The programs cover families with middle and upper-middle incomes and the homes can be anywhere in the county.
You can get started by calling or texting 760 622 5087 today to schedule an appointment. All your questions will be answered and a step-by-step approach will be provided.