Buying Vs Renting Which Is Better For You

Dated: 06/13/2017

Views: 88

According to a recent Trulia report, "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 reason why owning a home makes financial sense:

1. Mortgage payments can be fixed while rents go up.

2. Equity in your home may be a financial resource later

3. You can build wealth without paying capital gains

4. A mortgage can act as forced saving account.

5. Overall, home owners enjoy greater wealth growth than renters.


BOTTOM LINE: Before you sign another lease, let's get together and discuss all your options!


Marvette Cofield

You don’t choose a home because you love the paint color. No, an investment this big demands in-depth knowledge so that you can buy with confidence. That’s where I come in. As an agent with Berk....

Latest Blog Posts

Love Your Lender

When you decide the time is right to buy a home, there are a few things to get in order before you start looking for your dream home!  One of the most important things on you to-do list is

Read More

Aug 15 2017 24553 1

SUPER EXCITED about a house on Aquia Bay Ave., in Stafford County that is approaching it's final weeks of renovations.  This house has it all, and the attention to detail is off

Read More

Location Location Location

Every time someone is looking for a home, location is one of the hottest topics.  There are so many variables that go into choosing the right location.  Where you work, where your

Read More

Solar Eclipse Of The Heart

We are officially one week away from the solar eclipse.  It's the perfect moment when the sun and moon are in exact alignment with each other.  It isn't often that things line up,

Read More