Stop sitting on the fence...Splinters can be a pain...

You may have a Great Landlord...But No Equity...Why are you still renting?

Recently the National Association of Realtors ran an ad campaign, with a TV ad showing a couple with their kids, literally "sitting on a fence" looking lovingly at a house...A house that COULD be THEIR home!

I was in broadcasting for over 12 years and TV production was a blast! That ad, if you'll pardon the pun...Really Hits Home! It's simple, to the point and subtle without a pitchman yelling at you!

Having rented in Bath, Maine, Gardiner, Maine and for 13 years in Bangor, Maine...I can tell you right now...I had some GREAT landlords! I watched as one ran electricity on a heavy-duty extension cord from the basement to the apartment of a wheel-chair bound neighbor because the power company shut off his electricity. I had a landlord in Bangor that when times were tight, would tell his administrator to lay off sending letters threatening an additional fee on late rent payments for people who were having a hard time making the initial rent and were running a little bit behind.

We had a great landlord who, when I told him we had a pair of pet rabbits, he asked "Are they in cages" and when I said "yes" he said, "Don't worry about the pet deposit."

In that same apartment, Lake Superior started to form downstairs when a hot water tank sprung a leak on a SUNDAY! The maintenance man whose name shall remain, Ken Tyler (the best in the business) asked if we wanted him to replace it right then or first thing the next day (Monday morning) I asked if he could do it right away, and he did! I have this thing about taking a shower before I go out in public, so it was nice to be able to do that Monday morning, rather than call in as "un-bathed."

Now, here's the thing, I love people and even though I had awesome landlords and the best maintenance people over the years...there was one thing missing...that's a not-so-little thing called "Equity."

The last place we lived in gave us our security deposit back, but we had little else but our belongings, rabbit and cats to show for the thirteen years. For those of you who like doing math, I once sat down and found that over that time, we had paid out over $60,000 in rent alone!

NOW...Here is one of the s the many great things about the process of finding and buying a home...

YOU get to choose who you work with, whether it's a real estate agent, your lender, your home inspector, etc. and so on. YOU get to choose! Doesn't that sound nice? In other words, rather than paying a rent and getting what you're given...You're given a choice of who to work with and what you'll get...and even the way you'll pay for it!

Now...Moving in and living in a place YOU OWN is the icing on the cake...Especially when you consider there's a very good chance your house payment has insurance and taxes "built in" to the payment...and the monthly payment, if you've done your math...is an amount you can AFFORD and in many cases nowadays is...get this...Cheaper than what you may have been paying for monthly rent!

Once upon a time there was a TV ad showing a couple who had bought their own place. The man was doing the Chuck Berry move, going across the floor on one foot, holding a large lamp as if it was a guitar while their stereo was cranked up! Guess what? Getting into your own place...You can get that feeling too...and from someone who's been there...that feeling can last a long time...drive by our place sometime when I'm going dishes with the stereo going or working in the yard...with my headphones on and you'll see firsthand what I mean!

Owning your own place also leads to greater self-esteem...as you can make your home, yard and yes, even gardens a labor of love...something you'll be proud to point at and say "WE did that!"

Every year, we have people walking by compliment our gardens and our lawn. I always give credit where credit is due...I always let them know, "I'm ‘lawn'....Robin's ‘garden!' " Here's a little secret for you too...digging holes for things like rosebushes is fun...AND...the more gardens you have...the LESS lawn you'll have to mow!

So...consider getting off that fence and know that there are people like you out there who are ready, willing and able to assist you in getting your own place and a part of the American Dream...Besides...sitting on that fence too long can leave splinters!

Christopher Olsen

Prudential Northeast Properties

Bangor, Maine