The Many Non-Financial Benefits of HomeownershipBuying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it's essential
Is It Better To Rent Than To Own a Home Right Now?
Dated: March 27 2023
Views: 48
Tired of Hearing Conflicting Stories About Whether You Should Rent or Buy Right Now?
There are several reports floating around the news recently saying it's better to rent right now than it is to buy or own your own home. Before you let these news articles and segments impact your decisions, it is important to understand what these claims are based upon.
Frequently these reports are assuming things that aren't realistic for the average household. For example, the methadology behind one of those reports says that renting is a smarter financial option because of the opportunity to invest money elsewhere. It's assuming renters take the money they'd spend on costs tied into buying a home and put that money in an investment portfolio.
The truth is that most people who rent aren't making those investments. Many people just rent and do not save. According to Ken Johnson, Co-Author of the BH&J National Price-to-Rent Index "One of the difficulties with the rent and reinvest model is many people...simply rent and spend the difference...That's wealth destroying."
Homeownership has always been stated as one of the best investments you can make because it helps you build that wealth. That's why there is such a huge difference between the net worth of a renter vs the net worth of the average homeowner. Did you know statistically speaking a homeowner's net worth is more than 40x greater than a renter's.
Start seriously thinking about the opportunity to build wealth through homeownership before you renew your rental agreement.
If you're unsure whether you should continue to rent or to buy a home, let's chat. We'd love to assist you in making the best decision for you!
#homeownership #shouldibuy #tiredofrenting #readytoown #nexthomegulfcoast #tampabayrealestate #greysonsays
Latest Blog Posts
Expert Home Price Forecasts Revised Up for 2023Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023. That led to a lot
Mortgage Rates: Past, Present, and Possible FutureIf you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates. Since mortgage rates
Why It’s Still a Seller’s Market TodayEven though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller&rsquo
Copyright © MFRMLS.com All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated Last updated on May 13, 2024 9:56 AM UTC The listing information on this page last changed on Last updated on May 13, 2024 9:56 AM UTCd. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of MFR MLS.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on May 13, 2024 9:56 AM UTC
