5 Reasons Why Homeownership Is A Good Financial Investment

Dated: 12/06/2016

Views: 236

According to a recent report by Trulia, "buying is cheaper than renting in 100 of the largest metro areas by an average of 37.7%." That may have some thinking about buying a home instead of signing another lease extension. But, does that make sense from a financial perspective?


5 Reasons Why Homeownership Is a Good Financial Investment | MyKCM


In the report, Ralph McLaughlin, Trulia's Chief Economist explains:

"Owning a home is one of the most common ways households build long-term wealth, as it acts like a forced savings account. Instead of paying your landlord, you can pay yourself in the long run through paying down a mortgage on a house."


The report listed five reasons why owning a home makes financial sense:


  1. Mortgage payments can be fixed while rents go up.

  2. Equity in your home can be a financial resource later.

  3. You can build wealth without paying capital gains.

  4. A mortgage can act as a forced savings account.

  5. Overall, homeowners can enjoy greater wealth growth than renters.


Bottom Line


Before you sign another lease, let's get together and discuss all your options.

Latest Blog Posts

Visit This OPEN HOUSE Sunday For A Lovely Lake Mohawk 3BR

Longing to live the lake lifestyle? Check out 137 Hillside Road in Sparta at our OPEN HOUSE this Sunday, September 23rd from 1-3pm!Check out our newest home available in Sparta's

Read More

Donate Today To Help Victims Of Hurricane Florence

Today, residents along the Carolina Coast are picking through what remains of their homes. Others continue to face the threat of flash floods as Hurricane Florence, now a tropical depression,

Read More

Buying A NJ Home Should Not Be As Stressful As Planning A Wedding

Highlights:According to a new survey from Open Listings, 62% of Americans ages 25-54 believe that buying a home is more stressful than planning a wedding.Many young couples are saving for a wedding

Read More

Visit Triple Sparta OPEN HOUSES Sunday

This weekend, hit 3 fantastic new-to-market homes in Sparta! All OPEN HOUSES run Sunday, September 16th from 1-3pm---choose one, or visit them all!1 Lambert DriveWelcome to Sparta’s highly

Read More