Buying or selling a home can feel like a monumental endeavor. Kari Dye, Utah REALTOR has 16 years of experience and provides buyers and sellers with excellent customer service, honest professional advice and the highest ethical standards in the industry. Call her at 801-376-8404 or email her at email@example.com and check out her website at www.karidyerealtor.com!
Thursday, December 1, 2016
5 Reasons Why Homeownership is a Good Financial Investment
5 Reasons Why Homeownership Is a Good Financial Investment
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.
Before you sign another lease, let’s get together and discuss all your options.