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 … Read More
The Cost of Renting vs. Buying Today [INFOGRAPHIC]
Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put … Read More
Is Now a Good Time to Rent?
People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing rent increases from 1988 … Read More
80% of Renters Believe Homeownership is a Part of Their American Dream
According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream. The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that … Read More
Whether You Rent or Buy, Either Way You’re Paying a Mortgage!
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: “While … Read More
Should Boomers Buy or Rent after Selling?
In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home. “Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent… Meanwhile, more than 5 million baby boomers across the nation … Read More
2 Charts That Show the Truth about Home Affordability
There is a lot of discussion about the current state of housing affordability for both first-time and move-up buyers, and much of the narrative is tarnished with a negative slant. However, the truth is that housing affordability is better today than at almost any time in our history. The naysayers are correct in the fact that affordability today is not … Read More
The Cost of NOT Owning Your Home
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. Zillow recently reported that: “In reality, buying or renting a home is an intensely personal decision, with emotional and even financial … Read More
5 Reasons Homeownership Makes ‘Cents’
The American Dream of homeownership is alive and well. Recent reports show that the US homeownership rate has rebounded from recent lows and is headed in the right direction. The personal reasons to own differ for each buyer, but there are many basic similarities. Today we want to talk about the top 5 financial reasons you should own your own … Read More