Harris County GA | The Cost of NOT Owning Your Home

December 05, 2017

The Cost of NOT Owning Your Home | Simplifying The Market

Harris County GA | The Cost of NOT Owning Your Home

Zillow recently reported that:

“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”

What proof exists that owning is financially better than renting?

1. We recently highlighted the top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.

To protect your interests and assure that you make the best possible decisions, 

it’s important that you have a knowledgeable agent on your side who is an expert in the local real estate market. 

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed, 

and the most updated strategic view for your home purchase in Harris County GA.

To reach us, please call 706.662.0125

or send us an email  bunn947@gmail.com

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