Sunday, August 29, 2010

Why it still makes sense to own your home

 Read an interesting article in the New York Times. Many people have been spooked by the real estate market downturn over the past few years, and have kept renting even when they could be buying a home. However, the benefits of home ownership, for many, outweigh the risks. Some key benefits include the fact that paying a mortgage is a way of forcing you to save money, avoidance of landlord issues, and the ability to live in good neighborhoods and school districts.

My husband is famous among his friends for his "rent vs buy" excel spreadsheet model. It takes into account taxes and the costs of renting and of buying and helps to show if renting or buying is better for a given person or family. If you are trying to make the tough decision, I encourage you to look online for rent vs buy calculators to help you make your decision.

In Defense of Home Ownership

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