To Own or Not to Own?...

Reblogger Will Hamm
Real Estate Broker/Owner with Hamm Homes

To Own or Not to Own, Doug Dawes came up with a great blog that we can all take something away from.

 

Original content by Doug Dawes 92593-B

...That is the Question. There are many reasons for making the decision to own your own home or not owning a home. I have quite a few people I know that have sold their homes and now are renters, And I know many folks that are now considering entering the market to purchase a home. The decision is personal and different for everyone. That being said, if you are a person that wants to own a home, let's see about...

The True Cost of Not Owning Your Home

The True Cost of Not Owning Your Home

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!

Bottom Line

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

 

Thank you to KCM for compiling this report

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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Rainmaker
3,318,250
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

KCM  DOES supply Great information !

Dec 14, 2019 01:40 PM #1
Rainmaker
1,217,324
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Will you are so right to repost this great read. thanks for doing so and I hope all is well and you are having a great holidays, cheers cvc

Dec 14, 2019 05:10 PM #2
Rainmaker
2,026,007
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Will Hamm - this is a good re blog choice.  Doug did a great job making the point for home ownership.

Dec 15, 2019 06:38 AM #3
Rainmaker
216,223
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

I agree home ownership is great!

Dec 15, 2019 06:42 AM #4
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Rainmaker
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Will Hamm

"Where There's a Will, There's a Way!"
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