NOT Owning Your Home Can Cost You a Lot of Money in Citrus County!

NOT Owning Your Home Can Cost You a Lot of Money! | MyKCM

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 as long as America has existed.

Realtor.com recently 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.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that 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.

4. 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!!

The Cost of Renting vs. Buying Today [INFOGRAPHIC] | MyKCM

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.

If you are ready to Buy or Sell,  Meet with the The Cunningham Team Team @ RE/MAX Realty One, your local real estate professionals who can help you find your dream home.

For more Citrus County, Florida home selling and buying insights, give The Cunningham Team at RE/MAX Realty One a call anytime to discuss your own real estate plans! If you’re considering a move to the CITRUS COUNTY including Crystal River, Inverness, Homosassa, Beverly Hills, Inglis, Hernando, Lecanto, Citrus Springs or Dunnellon, Give us a call.

The Cunningham Team at RE/MAX Realty One “Your Nature Coast Real Estate Experts”

Kevin, Karen and Brogan The Cunningham Team  

(352) 527-7842

Click Here To Contact US

About TeamCitrusRE

The Cunningham Team – “Knows Citrus County” Kevin, Karen and Brogan Cunningham “Change is the common Thread that ties ones life to another by deliberate or accidental means” Because life is about change, you need a team you can trust to carefully orchestrate your most important transitions. When it involves Real Estate, The Cunningham Team shares a wealth of experience, articulate business prowess and personalities that exudes confidence in any situation. The Cunningham Team has established an impressive reputation among their peers and clientele as a knowledgeable resource for anything involving real estate in Citrus County. Also Business people interested in expansion, and or development of new business ventures within Citrus County look to our knowledge and insight as reliable resource for current market conditions. While attaining some of the highest honors given to business leaders in Citrus County, Kevin and Karen never forget that their clients are the key to their success. The extra hours, careful listening and honest evaluations of the marketplace, are a part of the consistently high standard of attention you will receive from the Cunningham’s . As a husband to wife Karen, and father to children, Courtney, Brogan, and Katelyn, Kevin maintains a delicate balance between work, play and community service. Alone, or as a family, Kevin enjoys the staples of Florida Nature Coast living; fishing, scalloping, golfing, and diving. Undoubtedly, you will face transitions in your life – when they involve Real Estate and a place to call home, think of Kevin Cunningham….. Professional stability in a climate of change
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