5 Reasons Why Homeownership Is a Good Financial Investment

    5 Reasons Why Homeownership Is a Good Financial Investment | Keeping Current Matters

    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, perhaps you should sit with a real estate professional in your area to better understand all your options.

    Source:  Keeping Current Matters

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    Steve Baker

    Steve comes to the world of real estate with nearly 30 years of Marketing and Graphic Design experience. These two very important skills make him ideal for this profession. In 2017 he achieved his highest accolade to date becoming a global, award-winning real estate graphic design/marketing recipient. Mr. Baker is not only a REALTOR but the Director of Marketing for Rinehart Realty. His education and work experience also include a Bachelor degree in Education and degrees in Radiologic Technology and Medical Ultrasonography. He was a pioneer in the field of Radiology PACS development and Radiology Voice Recognition adoption and implementation in southwest Virginia. His previous positions as Director of Radiology and PACS Administrator lead to enormous development in resources and project management necessary to succeed in the field of real estate. Steve is a writer and developer for a variety of blogs and real estate publications. He recently completed his first book of quotations and is currently working on a Real Estate Marketing book. He is a strong supporter of the United Way, having won a past Campaign Coordinator of the Year award. He is also a strong advocate for breast cancer research and education. Mr. Baker has a history of work experience developed on the foundation of a strong work ethic, the pursuit of excellence, quality, honesty and integrity.

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