Is it better to own a home or to rent? Let’s discuss this common question today.
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Owning a home has great financial benefits, yet many continue to rent.
Homeownership has long been regarded as a core facet of the American Dream. Renting, meanwhile, is a far more short sighted option. Here are a few reasons why owning a home is financially superior to renting:
1. Homeownership is a form of forced savings.
2. Homeownership provides tax benefits.
3. Homeownership allows you to lock in your monthly housing costs.
4. Buying is often cheaper in the long run than renting.
Homeownership has long been regarded as a core facet of the American Dream. Renting, meanwhile, is a far more short sighted option. Here are a few reasons why owning a home is financially superior to renting:
1. Homeownership is a form of forced savings.
2. Homeownership provides tax benefits.
3. Homeownership allows you to lock in your monthly housing costs.
4. Buying is often cheaper in the long run than renting.
“
It’s time to take advantage of
the perks of being a homeowner.
”
the perks of being a homeowner.
5. No other investment allows you to live inside of it.
6. Homeowners have an average net worth that is 44 times greater than that of the average renter.
7. A family that bought a home at the beginning of 2018 could build over $49,000 in wealth over the next five years.
8. All the expenses a landlord incurs are baked into the rent payment. It’s better to pay your own mortgage rather than your landlord’s.
All of these things boil down to one key point: Homeownership is the right way to go. We find that the majority of potential buyers mistakenly think that they don’t qualify for a loan, but this is often not the case. There are many financing options available. It’s time to take advantage of the perks of being a homeowner. Our team would be happy to connect you with some local lenders so that you can learn more about your options.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
