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      Homeownership Is a Good Financial Investment!

      Homeownership Is a Good Financial Investment! | MyKCM

      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:

      1. Mortgage payments can be fixed while rents go up.
      2. Equity in your home can be a financial resource later.
      3. You can build wealth without paying capital gains.
      4. A mortgage can act as a forced savings account.
      5. Overall, homeowners can enjoy greater wealth growth than renters.

      Bottom Line

      Before you sign another lease, let’s get together and discuss all your options.

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