The Cost Of NOT Owning Your Home

The Cost Of NOT Owning Your Home

Image title

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.

Zillow recently reported that:

“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?

1. We recently 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 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!!

Bottom Line

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

Click here to see are available homes for sale.

Click here to see are available homes for Rent


Keith Judish Headshot
Author:
Phone: 623-224-7956
Dated: November 27th 2017
Views: 742
About Keith: O'Keith Judish licensed REALTOR® with West USA Phoenix AZ. We use advanced search technology for o...

Property Search









RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Walk Through Your Next Home Without Stepping Out Of Your Comfort Zone - Are you planning to buy a new
Things You Should Know Before You Flip A Property - Money is made at the buy, not the
Out Of State Move Rent Or Buy First - We will be listing our house soon
Bad Credit Home Loan Financing Take It To The Bank - It used to be pretty easy to get

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Find Real Estate, Homes For Sale & Properties For Rent
7077 E. Marilyn Rd. , BLDG 4
Scottsdale, AZ
480-351-5248