{"id":140,"date":"2018-04-03T00:17:27","date_gmt":"2018-04-03T00:17:27","guid":{"rendered":"http:\/\/renwre.info\/2018\/04\/03\/not-owning-your-home-can-cost-you-a-lot-of-money\/"},"modified":"2018-04-03T00:17:27","modified_gmt":"2018-04-03T00:17:27","slug":"not-owning-your-home-can-cost-you-a-lot-of-money","status":"publish","type":"post","link":"http:\/\/renwre.info\/?p=140","title":{"rendered":"NOT Owning Your Home Can Cost You a Lot of Money!"},"content":{"rendered":"<div>\n<p><img decoding=\"async\" loading=\"lazy\" width=\"648\" height=\"354\" src=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/04\/21144834\/20180402-Share-STM.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"NOT Owning Your Home Can Cost You a Lot of Money! | Simplifying The Market\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" srcset=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/04\/21144834\/20180402-Share-STM.jpg 750w, http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/04\/21144834\/20180402-Share-STM-549x300.jpg 549w\" sizes=\"(max-width: 648px) 100vw, 648px\"><\/p>\n<p>Owning a home has great financial benefits, yet many continue to rent! Today, let\u2019s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.<span id=\"more-37245\"><\/span><\/p>\n<p><em>Realtor.com\u00a0<\/em>recently\u00a0<a href=\"https:\/\/www.realtor.com\/advice\/buy\/reasons-to-buy-a-home-in-2018\/\">reported<\/a>\u00a0that:<\/p>\n<blockquote>\n<p><em>\u201c<strong>Buying remains the more attractive option in the long term \u2013 that remains the American dream,<\/strong> and it\u2019s true in many markets where renting has become really the shortsighted option\u2026 <strong>as people get more savings in their pockets, buying becomes the better option.\u201d<\/strong> <\/em><\/p>\n<\/blockquote>\n<h4><strong>What proof exists that owning is financially better than renting?<\/strong><\/h4>\n<p>1. In a previous blog we highlighted the top 5\u00a0<a href=\"https:\/\/www.simplifyingthemarket.com\/2017\/11\/08\/5-reasons-homeownership-makes-cents\/?a=407209-0a9a783e881394b596f3c5746f5b9a77\">financial benefits<\/a>\u00a0of homeownership:<\/p>\n<ul>\n<li>Homeownership is a form of\u00a0<em>forced savings.<\/em><\/li>\n<li>Homeownership provides tax savings.<\/li>\n<li>Homeownership allows you to\u00a0<em>lock in your monthly housing cost.<\/em><\/li>\n<li>Buying a home is\u00a0<em>cheaper than renting.<\/em><\/li>\n<li>No other investment lets you\u00a0<em>live inside of it.<\/em><\/li>\n<\/ul>\n<p>2. <a href=\"https:\/\/www.simplifyingthemarket.com\/2017\/10\/12\/net-worth-of-homeowners-44x-greater-than-renters\/?a=407209-0a9a783e881394b596f3c5746f5b9a77\">Studies<\/a> have shown that a homeowner\u2019s net worth is 44x greater than that of a renter.<\/p>\n<p>3. Just a\u00a0few months ago, we\u00a0<a href=\"https:\/\/www.simplifyingthemarket.com\/2018\/01\/02\/how-rising-prices-will-help-you-build-family-wealth-in-2018\/?a=407209-0a9a783e881394b596f3c5746f5b9a77\">explained<\/a>\u00a0that a family that purchased an average-priced home at the beginning of 2018 could build more than $44,000 in family wealth over the next five years.<\/p>\n<p>4. Some argue that renting eliminates the cost of taxes and\u00a0home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the\u00a0<a href=\"https:\/\/www.simplifyingthemarket.com\/2018\/02\/05\/whether-you-rent-or-buy-either-way-youre-paying-a-mortgage-2\/?a=407209-0a9a783e881394b596f3c5746f5b9a77\">rent payment<\/a>\u2013\u00a0<em>along with a profit margin!!<\/em><\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Owning a home has always been, and will always be, better from a financial standpoint than renting.<\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Owning a home has great financial benefits, yet many continue to rent! Today, let\u2019s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has <a class=\"more-link\" href=\"http:\/\/renwre.info\/?p=140\">Continue reading <span class=\"screen-reader-text\">  NOT Owning Your Home Can Cost You a Lot of Money!<\/span><span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts\/140"}],"collection":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=140"}],"version-history":[{"count":0,"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts\/140\/revisions"}],"wp:attachment":[{"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=140"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}