NOT Owning Your Home Can Cost You A Lot Of Money

Dated: 04/11/2018

Views: 30


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.


Ready to stop renting and get into your own home? Contact your real estate professional Robin Prouse, REALTOR®, at 281-235-8954 or Robin@HousebyProuse.com to move where you want to go!


Want to Advertise on this Site?

Latest Blog Posts

Tips To Maintain Your Lawn During These Hot Summer Month

With the summer season already one month in, if you haven't already been doing so, caring for your lawn should begin as soon as possible. Summer is the peak growing season for your lawn, which means

Read More

Want To Sell Your House Faster

Want to Sell Your House Faster? Don't Forget to Stage! Some Highlights: The National Association of Realtors surveyed their members & released

Read More

Smell Something 7 Ways To Oust Odors

Whether you have an impending open house or are simply trying to freshen up your home, try these suggestions for getting rid of odors from seven commonly smelly items.1. Trash cansAfter rinsing out

Read More

How Long Do Most Families Live In A House

How Long Do Most Families Live in a House? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their

Read More