The True Cost of Not Owning Your Home

By
Real Estate Agent with Berkshire Hathaway Maui Properties

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 44 x 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! – 

Bottom Line

Owning a home has many social and financial benefits that cannot be achieved by renting. Let’s connect to determine if buying a home is your best move.

 

#Maui #MauiHome #MauiCondos #MauiLuxuryRealEstate #HawaiiHomes #SellYourHome #BuyHome #MauiRealtor

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Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Zee Mahan very good report for the true cost of not owning a home.

Dec 05, 2019 03:02 PM #1
Rainmaker
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Good reminder points and Aloha Zee Mahan. Also, a home is great inheritance for children. Provides income producing asset to pass on through a trust. Jeff 

Dec 05, 2019 08:16 PM #2
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Rainmaker
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Zee Mahan

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