Homeownership Is a Good Financial Investment!

With interest rates still very low why are you signing another year lease?  If your credit score is over 620 you can afford to buy.  No money down?  Don’t worry we have programs available with little or no downpayment.  Don’t be paying your landlords mortgage; pay your own.  It’s like money in the bank for your future.  Take a look at why the experts say you should be investing in homeownership and then give me a call!

Courtesy Keeping Current Matters 2017

Homeownership Is a Good Financial Investment! | MyKCM

According to a recent report by Trulia“buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%.” The report may have some people thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective?

Ralph McLaughlin, Trulia’s Chief Economist explains:

“Owning a home is one of the most common ways households build long-term wealth, as it acts like a forced savings account. Instead of paying your landlord, you can pay yourself in the long run through paying down a mortgage on a house.”

The article listed five reasons why owning a home makes financial sense:

  1. Mortgage payments can be fixed while rents go up.
  2. Equity in your home can be a financial resource later.
  3. You can build wealth without paying capital gains.
  4. A mortgage can act as a forced savings account.
  5. Overall, homeowners can enjoy greater wealth growth than renters.

Bottom Line

Before you sign another lease, let’s get together and discuss all your options.

Remember it is always toasty in Naples and I always have time to discuss your options when it comes to purchasing a home of your own.

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