Not Owning Your Home Can Cost You A Lot Of Money

Dated: 04/02/2018

Views: 98

Image title


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

   Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

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 cost of waiting:

  • 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.

Latest Blog Posts

Portland Oregon Residential Real Estate Review June 2018

June Residential Highlights The Portland metro area saw some cooler activity this June, but closed sales saw a gain over last month. At 2,946, closed sales slipped 7.6% below the 3,187 closings

Read More

Rents Increase 3 Percent Nationaly

Renters are paying an average of $40 more per month than a year ago as June rents brought an upsurge of 2.9 percent in national average rents,according to RENTCafe.com, based on Yardi Matrix data

Read More

The Reason To List Your House For Sale Now

The #1 Reason to List Your House for Sale NOW!If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!Buyer Demand Continues to Outpace the Supply

Read More

Median Rent Prices Rise In The Portland Oregon Metropolitan Region

Portland Oregon Experiences 3% Yearly Increase in Median RentPortland Rents continue to rise. This latest chart shows the median rent in the Portland region. Two and three bedrooms rose 3.1% and 3%

Read More