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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?
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=”16px”][vc_column_text]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, let’s get together and discuss all your options.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=”16px”][/vc_column][/vc_row][vc_row css=”.vc_custom_1491963877807{background-color: #e0e0e0 !important;}”][vc_column width=”1/12″][/vc_column][vc_column width=”1/3″][vc_cta h2=”” txt_align=”center” css=”.vc_custom_1491964058376{margin: 0px !important;border-width: 0px !important;padding: 0px !important;background-color: #e0e0e0 !important;}”]If you like what you see and think this post could help someone, please share[/vc_cta][/vc_column][vc_column width=”1/12″][/vc_column][vc_column width=”1/2″][vc_column_text][apss_share][/vc_column_text][/vc_column][/vc_row]
