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Do you know what the interest rate of renting in West Texas is?

Updated: Oct 17, 2022

If you're considering whether it's time to stop renting and purchase a home in West Texas, I want you to keep in mind that the interest rate on renting is 100%.

However, renting has its perks. No maintenance costs, no down payment, flexibility to move, and no concern about property value. But the truth is your monthly rent payment is just like paying 100% interest month after month after month.

You see, when you toss the financial jargon, interest, at its simplest, is the fee you pay to live in your home. When you rent, that’s what you’re doing. You’re paying a fee month after month, gaining nothing other than a roof over your head.

Yes, when you buy, you’re paying a fee (your mortgage) month after month, but you’re gaining SO much more than just a place to call home.

You get:

-An appreciating investment (existing-home sale prices rose 14.6% in 2021!)

-Increasing equity (every month, the bank owns less of your home, and you own more!)

-Predictable housing costs (a fixed-rate mortgage will never change)

-Advantages come with tax time

-Freedom to personalize however you choose

In almost every situation, it pays to buy vs. rent in West Texas. Want to talk more and run the numbers? Let’s do it! Give me a call or send me an email. Let's talk!

NOTE- If you’re planning on selling and are in the market for a top agent to make it happen, I would love to help!

We provide real estate services to these West Texas cities - Abernathy, Brownfield, Buffalo Springs, Crosbyton, Denver City, Farwell, Floydada, Idalou, Hale Center, Lamesa, Levelland, Littlefield, Lubbock, Muleshoe, New Deal, New Home, Olton, Plains, Plainview, Post, Ralls, Ransom Canyon, Seagraves, Seminole, Shallowater, Spur, Sudan, Sundown, Tahoka, Tulia and Wolfforth.

We provide real estate services to these counties - Bailey County, Briscoe County, Castro County, Crosby County, Dawson County, Dickens County, Floyd County, Gaines County, Garza County, Hale County, Hockley County, Kent County, Lamb County, Lubbock County, Lynn County, Parmer County, Scurry County, Swisher County, Terry County and Yoakum County.

-Turn the Key to your clean Slate-

Lainie Eilenberger, REALTOR

Key and Slate Real Estate Group

Keller Williams Realty


Licensed Realtor in Texas

Lainie Eilenberger, Realtor

Key & Slate Real Estate Group

Keller Williams Realty

Licensed in Texas


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