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Updated Friday September 3, 2010
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5 Reasons Homeownership Trumps Renting
The seemingly endless run of bad housing news is discouraging some potential home buyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains. The best things about owning a home have a lot more to do with personal comfort and satisfaction.
Here are five of them:
· Be your own landlord. The bank can only kick you out if you don’t pay; a landlord can be much less dependable – deciding to sell the property or choosing to live there themselves.
· Paying the principal is forced savings. Yes, it’s possible that home prices will fall further. It is also possible that your 401(k) will lose value. But over the long haul, both are likely to enjoy modest gains in value.
· Fixed-rate mortgages never rise – and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.
· Good schools. Family-sized rentals are harder to come by in areas with excellent public schools.
· Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned – not rented.
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Working expertly with buyers and sellers of real estate in Orangeburg County, Calhoun County, Bamberg County, City of Orangeburg, Cordova, Neeses, North, Branchville, Sandy Run, Santee, Lake Marion, and many smaller communities in between the towns.
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GOLDEN OPPORTUNITY
Teachers and First-Responders: CLICK HERE and learn how to get your $7000 in down payment assistance. If you stay in the home and follow the rules the $7000 will not be repaid by you.
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