If you’ve heard it once, you’ve heard it a million times: Buying a home is the smartest
financial decision you can make! The old cliché is absolutely true. In almost every
situation, you’ll get more bang for your buck if you buy a home.
Unless your rent is extremely low or you plan to move in less than three years, buying
is probably the best choice. Why? First of all, home owners enjoy some valuable tax
benefits. Secondly, if you lock in your monthly mortgage with a fixed rate loan,
you’ll take comfort knowing that your housing expenses will not skyrocket in the
future. Renters rarely have that advantage because their monthly rent could increase
at any time. Thirdly, a home is smart investment that could yield a substantial profit
when you decide to sell it down the road. That’s because the value of your home will
likely increase over time.
Lastly, a home allows you to accumulate wealth and boost your overall net worth.
Studies show that there is a gigantic gap between the average net worth of home owners
versus that of renters. According to the Federal Reserves’ Survey of Consumer Finances,
home owners with an annual income of $50,000 to $79,999 have an average net worth
of $194,610. However, renters in that same income bracket have an average net worth
of only $25,000. The numbers don’t lie—homeowners are typically wealthier than renters.
Serving So NH Towns; Amherst, Bedford, Brookline, Goffstown, Hollis, Hudson, Litchfield,
Lyndeborough, Manchester, Mason, Merrimack, Milford, Mont Vernon, Nashua, New Boston,
New Ipswich, Pelham, Temple, Weare, Wilton, Atkinson, Auburn, Brentwood, Candia,
Chester, Danville, Deerfield, Derry, Epping, Exeter, Fremont, Hampstead, Londonderry,
Nottingham, Northwood, Pelham, Plaistow, Raymond, Salem, Sandown, Windham, Allenstown,
Andover, Boscawen, Bow, Canterbury, Chichester, Concord, Dunbarton, Epsom, Hooksett,
Hopkinton, Loudon, Northfield, Pembroke, Penacook, Pittsfield, Salisbury, Webster
& Surrounding towns.
P-
