On this episode of The Loans Elevated Podcast, Broch debates if buying is more risky than renting. Broch designed this podcast with the aim of helping others create more wealth through home ownership by empowering others with information, addressing common myths and debunking anything that is holding people back from home ownership.

Broch takes us through the ties attached to renting a property, some of which include the following:

• When renting you have no control over what you pay outside of the lease you have signed and your landlord can increase your housing expenses on a dime
• There are rental contracts that provide the landlord with the ability to kick you out with just 30 days’ notice and your landlord can tell you he’s selling the property and you need to find somewhere else to live at the end of your contract
• The home is not yours, you cannot change anything
• There is a lack of permanence for you and your family, as well as there currently being an immense housing shortage

Broch states that a lot of his clients are becoming home owners purely because they cannot afford for their landlord to unexpectedly increase their housing expenses by 20% at the drop of a hat. It is just too high risk for the majority of people!

Broch also shares some information with us about buying and the benefits that come with home ownership. Some of these are:

• When you buy a home you get into a mortgage that you know you can afford and will stay at a fixed rate so there will be no shocks to your budget
• You have 100% control of your property and your destiny
• If you purchase a home and need to move soon after, you can sell the home for profit or become a landlord and stay in control of your property
• You can fund a new property purchase with the rental income and even though it feels like a commitment it is way less risky than renting as you are in control

A huge bonus to buying instead of renting is that you can generate wealth creation through home ownership! If you have been inspired by this episode to take action or want to understand what your options are reach out to Broch and his team. As always, we would like to hear from you! Email us at broch.lassig@myccmortage.com or DM us on Instagram @LoansElevated https://www.instagram.com/loanselevated/