Renting is playing it safe, but is it playing it smart?

by HomeSalesSally on August 2, 2011

Renting is playing it safe, but is it playing it smart?Everyone knows that renting has some advantages over owning your own home.  Most homeowners will agree that the benefits are pretty limited.  To me, renting just seems like an inability to commit.  Owning your home can provide both financial and emotional security.

The financial security is pretty easy to understand.  In the current market, it is quite likely that you can own a home that is bigger and nicer than the current rental you have for less money.  Not only is the cost to own less (in many cases) than the actual rent you are paying, but there are also tax benefits to owning your home that reduce the total cost even further.

Concerned that you don’t have enough money for a down payment?  Most landlords require first and last month’s rent, plus a security deposit.  Would it surprise you to know that it may not cost any more to get into a home as its owner?

The emotional security is a little more difficult to define.  The quote on the left is from the KCM Blog and sums it up pretty well.  I agree with the author’s sentiments.  Americans will be better served by living their dreams instead of playing it safe.

If you are interested in exploring the dream of home ownership, please call me at 661.375.REAL (7325) or email me today.  Let’s talk about what will help you achieve your dream.

As always, thanks for reading.  If you found some value here, please share, forward, etc.

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