There is always a long list of pros and cons to consider during any election. But if you live in California and you’re currently renting your home, your budget could be in for a substantial jolt if Proposition 10 passes in early November…and it won’t likely be due to renovations or the addition of any amenities.
Rather, the reason for many tenants having to fork over a higher rent check could be because of a state-wide ballot initiative which will lift rent restrictions on rent control – and its been causing a rift between many landlords and tenants, especially as the time of the election approaches.
What’s the solution?
One, should the Proposition 10 measure pass, may be to pay more for your current surroundings. Another could be to take the leap into home ownership where, if you lock into a fixed rate mortgage, you can anticipate paying the same monthly mortgage amount for 15 or 30 years.
But the benefits of owning versus renting don’t stop there. With the rise in California’s real estate market, there is also the opportunity to build equity over time.
Want to know more about LA homes for sale that could meet your housing and your monthly budgetary needs? Contact Us today!