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?
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:
* #mortgage payments can be fixed while rents go up.
* Equity in your home can be a financial resource later.
* You can build wealth without paying capital gains.
* A #mortgage can act as a forced savings account.
* 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. http://www.simplifyingthemarket.com/en/2016/12/01/5-reasons-why-homeownership-is-a-good-financial-investment/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage
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