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 to lock in your monthly housing cost.
Buying a home is cheaper than renting.
No other investment lets you live inside of it.
2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.
3. Just a few months ago, we explained that 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:Amanda Scott Phone: 208-985-3622 Dated: November 27th 2017 Views: 209 About Amanda: I have been married since 2004 and have two beautiful children. In my free time, I enjoy cooking & ...
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I have been married since 2004 and have two beautiful children. In my free time, I enjoy cooking & baking, having a glass of wine with my friends, and watching football games.
My mission is to empower my clients with knowledge of the local real estate market while providing exceptional customer service to assist them in reaching their real estate goals. My philosophy is to treat clients like family and create lifelong professional relationships.
I am proud to be practicing at a brokerage with a group of professionals who share my passion for superior customer service. We utilize cutting edge marketing techniques and provide an unmatched marketing/web presence for our clients.
Some of the marketing techniques I utilize for each of my listings include:
• Professional Photography
• An Online Virtual Tour
• Professionally Printed Marketing Materials (such as flyers, postcards & doorhangers)
• Paid Social Media Advertisements
• Listing Syndication to 100s of Websites