15th annual Earth Day Free Family Festival, Old Mill Park, 2201 Caroline St., Fredericksburg. 11 a.m. to 4 p.m. Saturday. EarthDayFred.comhttp://www.fredericksburg.com/entertainment
5 Reasons Why Homeownership Is A Good Financial Investment By The KCM Crew On December 1 2016 In Fir
According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 37.7%.” That may have some thinking about buying a home instead of signing another lease extension. But, does that make sense from a financial perspective?
In the report, 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 report listed five reasons why owning a home makes financial sense:
Mortgage payments can be fixed while rents go up.
Equity in your home can be a financial resource later.
You can build wealth without paying capital gains.
A mortgage can act as a forced savings account.
Overall, homeowners can enjoy greater wealth growth than renters.
Before you sign another lease, perhaps you should sit with a real estate professional in your area to better understand all your options.
Blog by KCM Crew.
I am a full time licensed Realtor. I specialize in representing my clients in the purchase and sale of single-family residences and income property within Fredericksburg. I truly love this area and pr....