It may be too hot to sweep out those rain gutters or clean that messy garage. But there’s plenty you can do in the cool of the indoors to keep your home in peak condition.Today’s
Homeownership Is A Good Financial Investment
According to a recent report by Trulia, “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 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.
Bottom LineBefore you sign another lease, perhaps you should sit with a real estate professional in your area to better understand all your options. Start your CT Home Search now: http://bit.ly/2o9Z79q
I was born and raised in West Hartford, spent most of my summers on the Connecticut shoreline and Block Island. I had found my love for real estate in 1990 assisting my mother, before launching my car....
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