Homeownership Creates Extra Wealth!

Yes, mainly through its ability to force owners to save rather than through property appreciation.

Homeownership appears to be a self-imposed savings plan, which through time leads to greater wealth accumulation as compared to comparable renters. In short, buying a home makes Americans save.

It cost more to rent than own right now!

And you don’t get any of your rent back in the future. History shows us, in the long term, you can build equity in a home.

Today’s rental market definitely benefits the Landlord!

Homeownership makes the most financial sense for people whose strong credit scores let them snag the lowest mortgage rate and who get the biggest benefit from deducting mortgage interest and property taxes from their income taxes.

There is no better time to BUY than now.

In 2008 mortgage rates were 6.48%.  Is real estate better off than 4 years ago? 

If the median price of a home was $210,900 (nationwide) in 2008 and the rate was 6.48%, your monthly payment (principal and interest) would be $1,330.26.

In 2012 mortgage rates are 3.59%.  The median price of a home (nationwide) is $188,100.  Your monthly payment (principal and interest) today is $854.13.

In 4 years from now, you’ll be saying “I’m glad I purchased a home in 2012!”

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About The Author

Jolie Powell

Jolie Powell has been a distinguised leader in the Real Estate industry since 1987. Prior to entering the world of Real Estate, she worked as a TV producer for the Advertising Agency, Dancer Fitzgerald Sample in NYC. Jolie's expertise in counseling buyers and sellers brings people together from Long Island, and indeed, Globally! Having lived abroad and traveled extensively, Jolie has an excellent understanding of many cultures. As a Cuban-born American, she is fluent in Spanish and communicates well with international clients relocating to the North Shore of Long Island. Jolie is proud of the high level of trust she and her clients have established and looks forward to continue building exceptional client/broker relationships.