It’s a well-known fact that owning a home has many financial benefits.  Even so, many people still rent.  So let’s take a look at the reasons why owning a home in Southeast Georgia can benefit you financially in the long run.

It was recently reported by Zillow that:

“…it turns out that renters currently paying the median rent in many markets could afford to buy a higher-quality property than the typical (read: median-valued) home without increasing their monthly expenses.”

But where’s the proof that owning a home really is better than renting? Trulia recently pointed out in their latest Rent Vs. Buy Report 5 financial benefits of owning a home:

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

Studies also show that a homeowner’s net worth is 45x greater than those who rent! People also argue that homeowners have to pay taxes and for home repairs.  True, but so does your landlord, and therefore, so do you if you rent.

In the end, owning a home will always be a better financial choice.