Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.
“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset.Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”
What proof exists that owning is financially better than renting?
Homeownership allows you tolock in your monthly housing cost.
Buying a home ischeaper than renting.
No other investment lets youlive inside of it.
2.Studieshave shown that a homeowner’s net worth is 44x greater than that of a renter.
3. Just a few months ago, we explainedthat a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.
4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment–along with a profit margin!!
Owning a home has always been, and will always be, better from a financial standpoint than renting.
Author:Steve Lewey Phone: 336-317-4100 Dated: November 27th 2017 Views: 24 About Steve: ...
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Some Highlights: Buyer demand continues to outpace the supply of home
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