The Financial Benefits of Owning a Home

Updated: Mar 1



Home is a basic necessity. There is no greater joy than having a place where you can relax and entertain your friends and loved ones. Thinking whether you should buy a home or continue to rent? Here are a few things to consider when it comes to financials.



Building Wealth


By renting a home, the amount you pay is put towards building the property owner's wealth. On the other hand, buying your own means you can build your own wealth since most loans lock payments within 15 to 30 years. With renting, you have to pay every time you renew your lease.


Value of Investment


Properties increase values, which means it may hurt your pocket if you rent a home for a long time. Conversely, if you buy a home, you can sell it at a higher price in the future or enjoy residual income by renting it out.


Wrap Up


As for any kind of investment, it is important to weigh the pros and cons. Owning a home comes with significant benefits that are worth looking into, especially with today's real estate market where rental prices continue to soar. Give us a call or send us a message, we'd love to walk you through the process and help you find the best options available.


631-831-0912


kyle.kelly@eXpRealty.com


kkellyny@gmail.com


islandwideteam@gmail.com


kylekelly.exprealty.com


islandwideteam.com



Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.


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