• Home
    • Homeowners
    • 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:

    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.

    Trackback from your site.

    Danny Cheung

    I spent over twenty five (25) years with the Department of Defense in the hardware/software design and development as well as program management prior to joining the Group in a full time capacity. I am thrilled to put my years of experience as an Electronics Engineer to assist and lead our Real Estate Group to the next level. I am committed to establishing the tools and resources necessary for our team members to work more seamlessly and effectively thus ensuring our clients full satisfaction. My wife and I have two daughters and a dog (he's more like our son). I enjoy travelling and watching sports especially football…Go Skins!

    Leave a Reply