Why Homeownership Is Always the Sweetest Deal
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After spending so much time indoors during the COVID-19 pandemic, many people are gaining a new valuable perspective on their homes. Our place of residence became our castle — and for some, it turned out to be a sandcastle, fueling a desire to upgrade in the near future.
Many have already started this journey — in fact, data from the National Association of REALTORS® shows home sales increased in May 2020 as buyers and sellers began to navigate the new normal in real estate. This collection of financially secure first-time homebuyers and move-up buyers are looking to safely dive into the recovering market and soak up the benefits of homeownership.
On Tuesday, July 7, real estate leader Brian Buffini is explaining why owning a home is always going to be the sweetest deal in a brand new podcast episode, “The Magic of Owning a Home #226.” Whether you’re getting in the market for the first time or moving up the homeownership ladder, this is information you do not want to miss. Here’s a sneak peek at content Brian’s sharing on “It’s a Good Life” that demonstrates how purchasing a property benefits owners for years down the line.
Economically, homeownership increases a person’s net worth to nearly 44 times that of a non-owner. Net worth is a powerful thing when it comes to building wealth and a financial legacy. Instead of boosting someone else’s net worth by paying their mortgage as a renter, you can contribute to your own wealth by becoming a homeowner.
It’s cheaper too in most cases. Owning is more affordable than renting in at least 50 cities in the US and Canada. You’ll also receive more tax benefits, which can save you some dough come tax time. Another thing to keep in mind — although a home requires a significant investment up front, it’s much more stable than stocks, and it will become more valuable the longer you have it.
Looking at homeownership on a more personal level, NAR data show that 75% of aspiring buyers consider homeownership as part of the American dream, and 78% see it as a good financial decision. It’s a natural next-step for many American renters looking for a place to call home. When you do purchase your home, that space is all yours. You don’t have to answer to any landlords when it comes to customizing or fixing up the property, so you can truly make it your own.
There are countless reasons why homeownership will always be the sweetest deal. Real estate leader Brian Buffini breaks them all down in his new episode of “It’s a Good Life” podcast, and he’s offering a free resource to recap those perks. Catch “The Magic of Owning a Home #226” and join the interest list so you can be the first to download your resource and listen to the episode.
