R U Still Renting? Part 2

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

 There are many reasons people can cite for renting vs buying, BUT, the article below from KCM does a good job outlining...

          The True Cost Of NOT Owning Your Home

 

 Please take note of a link showing 5 benefits of owning

 

The True Cost of NOT Owning Your Home

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 the entirety of America’s existence.

Realtor.com 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. Less than a month ago, we explained that a family that purchased an average-priced home at the beginning of 2018 could build more than $49,000 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 your home has many social and financial benefits that cannot be achieved by renting.

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

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Topic:
Home Buying
Location:
Massachusetts
Groups:
FOR SALE BY OWNER - MARKETING(FSBO)
Boston Real Estate
New Hampshire - Real Estate and Life in The Granite State!
MA REALTORS
Boston Area Real Estate
Tags:
buying
savings
renting
cost

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Rainer
527,522
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Great article on why you should not rent!!!

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!

Oct 09, 2018 03:36 AM #1
Rainmaker
3,308,089
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Doug. For the vast majority owning trumps renting and the excetions are dwindling. Enjoy your day!

Oct 09, 2018 04:23 AM #2
Rainmaker
777,315
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Sham Reddy 

I agree with the points you have made

Oct 09, 2018 06:09 AM #3
Rainmaker
777,315
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Wayne Martin 

Owning is better for more than less. In certain circumstances renting is better for some.

Oct 09, 2018 06:10 AM #4
Rainmaker
4,432,267
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I hope renters will read this post and decide to buy a house . Thank you for sharing 

Oct 09, 2018 07:19 AM #5
Rainmaker
777,315
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Gita Bantwal 

I almost didn't recognize you with your new profile picture. I think many renters should take the plunge now before they get priced out

Oct 09, 2018 09:30 PM #6
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Rainmaker
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Doug Dawes

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