Many people weight the pros and cons of owning a home.  Have you looked at the financial benefits of owning?  You have to look at the long term picture!

Owning a home has great financial benefits, yet many continue to rent!  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. 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. The top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • No other investment lets you live inside of it.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. It is projected that a family that purchases 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.  Every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– as well as a profit margin!

Bottom Line

Furthermore, owning a home has always been, and will always be, better from a financial standpoint than renting.  If the time has come and you are ready to take the plunge and reap the financial benefit of homeownership contact us.  Lets explore what is available to fit your needs!