NOT Owning Your Home Can Cost You a Lot of Money in Citrus County!

NOT Owning Your Home Can Cost You a Lot of Money! | MyKCM

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Realtor.com recently reported that:

Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

1. In a previous blog we 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 2018 could build more than $44,000 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!!

The Cost of Renting vs. Buying Today [INFOGRAPHIC] | MyKCM

Bottom Line

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

YOUR LOCAL REAL ESTATE EXPERTS

Welcome to your resource for real estate in Citrus County Florida. The associates of RE/MAX Realty One invite you to explore this site for real estate listings and local information. For over 25 years our company has assisted thousands of customers like you in locating their perfect home, land or investment property. We are the premier local company offering you experience, knowledge and dependability.  If you’re considering a move to the CITRUS COUNTY including Crystal River, Inverness, Homosassa, Beverly Hills, Inglis, Hernando, Lecanto, Citrus Springs or Dunnellon, you’ve come to the right place. We hope that you enjoy your visit exploring everything our website has to offer and will contact us if you have any questions. Whether you’re a buyer or seller, you can learn more about RE/MAX Realty One here.  We’re your real estate professionals on Florida’s Nature Coast.

Buying or Selling, contact us for service that exceeds your expectations!

The Associates of RE/MAX Realty Oneremax

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