NOT Owning Your Home Can Cost You A Lot Of Money

Dated: 04/10/2018

Views: 80

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


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 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. 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.




Jasmine Broderick - REALTOR®

eXp Realty, LLC - Arizona

602-300-2774

[email protected]

AskJazz.net

Blog author image

Jasmine Broderick

My clients appreciate that I am honest and trustworthy. I promise to always be straightforward with my clients throughout the entire process. What makes me different from other agents is I actually ha....

Latest Blog Posts

Receive a Free Appraisal & Free Home Inspection in 2018'

Exciting News! Free Appraisal & Free Home Inspection in 2018'Purchase your New Home before the close of 2018' using me and my prefered Team and you'll Receive a Free Appraisal & Free

Read More

Ocotillo Golf Corse Open House Sat 10:30-4:30pm

Ocotillo Open House on Saturday October 20th, 10:30am-4:30pm Mark Your Calendars! TOMORROW!  OPEN HOUSE Saturday form 10:30 am - 4:30 pm! Ocotillo Golf Course Beauty! An Absolute Must

Read More

Everything You Need To Know As A First Time Home Buyer

Everything You Need To Know As a First Time BuyerFirst of all, be excited!!! Buying your first property is one of the most nerve wrecking and stressful things you will experience but it is so

Read More

How to Survive a Kitchen Remodel

How to Survive a Kitchen RemodelWashing mugs in the tub and getting hooked on Pop-Tarts — here’s what to expect if you stay at home during constructionSo you’ve decided to remodel

Read More