Homeownership Is a Good Financial Investment!

    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 33.1%.” The report may have some people thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective?  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 article 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, perhaps you should sit with a real estate professional in your area to better understand all your options.

    According to a recent report by Trulia“buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%.” The report may have some people thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective?

    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 article 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.

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    Jordan Forney

    Jordan is a recent graduate of Lenoir-Rhyne University where he received his BA in Multimedia Communications while also playing football all four years that he was enrolled. Jordan has experience in writing and photography from his time working for the school newspaper, Lenoir-Rhyne News (LRN). He also has marketing experience with WLRZ 99.3 where Jordan produced and aired PSAs and was in charge of marketing with the social media accounts. He was a part of the marketing team for the Lenoir Oiler's baseball team as well where he had a lot of the same responsibilities. Now Jordan works at Rinehart Realty where he is increasing his experience by posting blogs, maintaining social media accounts, and working directly under the Director of Marketing.

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