The True Cost of Not Owning Your Home

Reblogger Steffy Hristova
Real Estate Agent with HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 SA585680000
Original content by Abby Stiller Lic. # SL3154233

There are great advantages to owning a home, yet many people continue to rent. The financial benefits are just some of the reasons why homeownership has been a part of the long-standing American dream.

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.”

Why is owning a home financially better than renting?

Here are the top 5 financial benefits of homeownership:

  1. Homeownership is a form of forced savings.
  2. Homeownership provides tax savings.
  3. Homeownership allows you to lock in your monthly housing cost.
  4. Buying a home is less expensive than renting.
  5. No other investment lets you live inside of it.

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

A family that purchased a median-priced home at the start of 2019 would build more than
$37,750 in family wealth over the next five years with projected price appreciation alone.

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!

 

buying a home in 2020 

Bottom Line

Owning a home has many social and financial benefits that cannot be achieved by renting. Reach out to a Real Estate Professional: Abby Stiller to determine if buying a home is your best move.

info provided by KCM

 

Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Topic:
Home Buying
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tempe real estate
cost of not owning a home

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Rainmaker
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Peter Mohylsky
PrimeSouth Properties - Santa Rosa Beach, FL
Let me help you find your path to the beach.

Interesting post, and repost times two.  Great job.

Dec 01, 2019 09:48 AM #1
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Steffy Hristova very good list of tips for the true cost of not owning a home.

Dec 01, 2019 09:59 AM #2
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Steffy, great choice for a reblog, and Abby did a great job with lots of valuable points! 

Dec 01, 2019 11:46 AM #3
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Michelle Cherie CarrCrowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

I agree, buy a home-No other investment lets you live inside of it.

Dec 01, 2019 01:35 PM #4
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Rainmaker
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Steffy Hristova

Tempe AZ Realtor - Your Home Close to Your Work!
Your Home or Office Found with Steffy!
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