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.
“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?
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.Studieshave 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!!
Owning a home has always been, and will always be, better from a financial standpoint than renting.
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Starting late last year, some predicted that the 2018 tax changes woul
"Brandon is amazing. I would HIGHLY recommend Brandon Switzer to help you find a new home or your investment property. Brandon is extremely knowledgeable with the real estate market and went above and well beyond any expectation I had previously for realtors. Brandon made me feel like I was his top priority at all times and continues to do so as I look for more investment property. I had some very challenging circumstances surrounding the purchase of an investment property, especially time being of the essence as I was leaving for Minnesota that evening. Brandon dropped what he was doing that morning got the agreement done quickly and worked with us most of the day with amendments. He was always in my corner and made sure my interests were protected. I am glad to have Brandon on my power team."