NOT Owning Your Home Can Cost You A Lot Of Money

Dated: 04/11/2018

Views: 21


NOT Owning Your Home Can Cost You a Lot of Money! | MyKCM

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.


Ready to stop renting and get into your own home? Contact your real estate professional Robin Prouse, REALTOR®, at 281-235-8954 or Robin@HousebyProuse.com to move where you want to go!


Want to Advertise on this Site?

Latest Blog Posts

Why A Pre Approval Is Crucial To Your Home Search

When you’re ready to find a home, the last thing you want to do is limit your possibilities. Dream big, right?But you’d be totally bummed if you found a perfect pad, only to learn you don’t

Read More

4 Things Only A Realtor Knows About Real Estate That The Internet Does Not

                                                       

Read More

NEWLY LISTED IN FOREST OF FRIENDSWOOD

Keep your cool in the pool at your next home in The Forest of Friendswood! This beautiful 2-story has 4 bedrooms and 3.5 baths, and is set on a beautiful lot with mature trees, has easy access to

Read More

Mortgage Interest Rates Have Begun To Level Off

Whether you are a buyer searching for your first home, or a homeowner looking to move up to your next home, you should pay attention to where mortgage interest rates are heading.Over the course of

Read More