Rent vs. Buy

Auto Added by WPeMatico

It’s ‘National Roof Over Your Head’ Day!

By |2019-12-03T18:35:30+00:00December 3rd, 2019|

Did you know that each year in the United States, we celebrate “National Roof Over Your Head Day” on December 3rd? As noted on the National Calendar, it was “created as a day to be thankful for what you have, starting with the roof over your head. There are many things that we have that

The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

By |2019-11-15T19:58:04+00:00November 15th, 2019|

  Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear. Every market is different. Before you renew your lease, find

What Is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

By |2019-11-06T18:06:16+00:00September 27th, 2019|

  Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020. CoreLogic predicts home prices will appreciate by 5.4% over the next 12

Homeowners Are Happy! Renters? Not So Much.

By |2019-11-06T18:06:58+00:00September 26th, 2019|

When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93%

One of the Top Reasons to Own a Home

By |2019-09-19T10:00:40+00:00September 19th, 2019|

One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and

A Great Way to Increase Your Family’s Net Worth

By |2019-08-19T10:00:09+00:00August 19th, 2019|

Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased

Rent Vs. Own [INFOGRAPHIC]

By |2019-08-09T10:00:09+00:00August 9th, 2019|

Some Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather

Millionaire to Millennials: The Costly Mistake of Not Buying Now

By |2019-08-05T10:00:45+00:00August 5th, 2019|

On his personal website, self-made millionaire David Bach makes a striking statement:  “Not prioritizing homeownership is the single biggest mistake millennials are making.”  He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances

Is Renting Right for Me?

By |2019-07-26T17:09:08+00:00July 22nd, 2019|

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize. According to the 2018 Bank of America Homebuyer Insights Report, 74% of

5 Powerful Reasons to Own Instead of Rent

By |2019-07-09T10:00:33+00:00July 9th, 2019|

Owning a home has great financial benefits. In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained: “Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in