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NOT Owning Your Home Can Cost You A Lot Of Money!

Posted by David E. DeChant on Tuesday, April 3rd, 2018 at 9:35am.

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.

Realtor.com recently reported that:

Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

1. In a previous blog we highlighted the top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • 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 2018 could build more than $44,000 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!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.

 

 

 

 

Source: https://www.keepingcurrentmatters.com/2018/04/02/not-owning-your-home-can-cost-you-a-lot-of-money/ 

3 Responses to "NOT Owning Your Home Can Cost You A Lot Of Money!"

Boomerang Buyers: Most Qualify For Financing In 2-3 Years wrote: [...]Links

NOT Owning Your Home Can Cost You A Lot Of Money!
The Cost Of Renting Vs. Buying Today [INFOGRAPHIC]
99% Of Experts Agree:[...]

Posted on Wednesday, April 4th, 2018 at 10:14am.

What Should You Look For In Your Real Estate Team? wrote: [...]Links

Boomerang Buyers: Most Qualify For Financing In 2-3 Years
NOT Owning Your Home Can Cost You A Lot Of Money!
The Cost Of Renting Vs. Buying Today [INFOGRAPHIC]




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Posted on Thursday, April 5th, 2018 at 9:47am.

House Prices: Simply A Matter Of Supply & Demand wrote: [...]Estate Team?
Boomerang Buyers: Most Qualify For Financing In 2-3 Years
NOT Owning Your Home Can Cost You A Lot Of Money!




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Posted on Friday, April 6th, 2018 at 10:47am.

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