The True Cost of NOT Owning Your Home

by Builder Trade In Program Oct, 30

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 the entirety of America’s existence.

 

Realtor.com reported that:

 

“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

  1. In a previous blog, we highlighted the top 5 financial benefits of homeownership:
  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.
  1. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.
  2. Less than a month ago, we explained that a family that purchased an average-priced home at the beginning of 2018 could build more than $49,000 in family wealth over the next five years.
  3. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment – along with a profit margin!

Bottom Line

Owning your home has many social and financial benefits that cannot be achieved by renting.

Housing Is Still Affordable in the United States!

by Builder Trade In Program Oct, 29

Lately, there have been many headlines circulating about whether or not there is an “affordability issue forming in the housing market.”

If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you’re seeing in the news, let’s look at the results of the latest Housing Affordability Report from the National Association of Realtors (NAR).

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Will Home Prices Continue to Increase?

by Builder Trade In Program Oct, 23

There are many unsubstantiated theories about what is happening with home prices. From those who are worried that prices are falling (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.

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Rising prices and interest rates are a 'one-two punch' to homebuyers, Lennar chairman says

by Builder Trade In Program Oct, 22

Rising prices and accelerating interest rates are a "one-two punch" to homebuyers, Lennar Executive Chairman Stuart Miller told CNBC on Thursday.

"The combination of both higher prices ... together with the acceleration and adjustment of interest rates — that is a one-two punch to what our buyers purchase, which is basically [a] monthly payment," Miller told CNBC's Diana Olick during a "Power Lunch" interview.

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Welcome to your Weekend!

by Builder Trade In Program Oct, 17

Arizona State Fair

The Arizona State Fair is the state's largest festival, attracting over 1 million guests annually to rank as the 3rd highest attended state fair in the country and in the top 15 of North American Fairs.

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Homebuilder sentiment improves in October as lumber prices fall

by Builder Trade In Program Oct, 16

U.S. homebuilders continue to face several challenges, including a severe labor shortage, but the cost of lumber is coming down. That has builders feeling better.

A monthly sentiment survey from the National Association of Home Builders rose one point in October to 68. Anything above 50 is considered positive. The index was unchanged from October 2017.

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The True Cost of NOT Owning Your Home

by Builder Trade In Program Oct, 15

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 the entirety of America’s existence.

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New Home Friday 10-12-2018

by Builder Trade In Program Oct, 12

Welcome to your Weekend!

by Builder Trade In Program Oct, 10

13th Floor Haunted House

Created by nationally-recognized and award-winning haunted house designers, the 13th Floor will transport you to new levels of horror.

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