SHOULD YOU BUY OR RENT IN TODAYS MARKET?

In a Seller's Market, most think that it's financially imprudent to purchase a home. Most do not consider that the housing market directly impacts the rental property market. With both rates increasing, what are the tangible and intangible benefits of buying?

"I think real estate is the best investment an individual can make." - John Paulson, American Financer

While it’s true that buying a piece of property is a major investment, it’s a myth that most renters can’t afford it. In fact, there are many paths to homeownership for people from all sorts of financial positions. No matter the journey, they can all lead to some very attractive incentives.

Tangible Benefits:

Net worth of homeowners is over 80x greater than that of renters, according to the U.S. Census Bureau.

According to the same report, home equity and retirement accounts are the two biggest contributors to wealth.

Home equity credit lines can help pay other debts, such as credit card debt, auto loans, student loans, or medical bills.

Homeowners may break even on their investment in as little as five years in some markets.

Intangible Benefits

Homeowners feel a greater sense of community and are more likely to engage in civic responsibilities.

The sense of control homeownership provides positively improves physical and mental health.

Children of homeowners are more likely to have higher levels of academic achievement.

Crime rates tend to be lower among homeowners and people living in stable housing environments.

And the biggest benefit of all: the ability to truly own the place that you call home. Ready to become a homeowner? Give me a call, email, or text and let the journey begin!

List inspired by tips from KW Research