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, weexplainedthat 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 therent payment–along with a profit margin!!
Owning a home has always been, and will always be, better from a financial standpoint than renting.
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"O'Keith Judish is a remarkable realtor. Purchasing a house was a daunting experience for us. Keith guided us through this process from beginning to close of escrow and beyond. Keith appeared to be more interested in finding the right property for us than he was in closing a sale. This is highly unusual for the average realtor, but he is not your average realtor. Keith goes above and beyond what is normally expected. Throughout the purchase process, Keith remained in constant communication with us and with the bank. His reassuring and patient attitude was greatly appreciated, and the whole process went very smoothly. With the completed purchase came the need for a variety of other services as well. Keith has an extensive network of contacts and service providers, including home warranty plans, house insurance, property management, tradespeople and house repair, housecleaning, pool care and service, landscaping and many more. We are confident that he will be able to put us in touch wi"