By Sun Financing Group
ORANGE COUNTY, CA. – There’s no denying that the buying a home versus Renting argument has been around for years thanks in large part to the fact that there are many people on both sides of the fence who have very good reasons for why buying a home or renting a home is always better but the reality is that buying a home always wins especially for these reasons.
Reason #1 – Equity
The longer that you live in your home, make your payments on time, and also invest money in your home you will build up equity in your home that you can ultimately tap into for home renovations, retirement, and so much more.
Reason #2 – Wealth Creation
As of 2010 the Federal Reserve found that the average American has up to $80,000 in net worth, this can be traced back to home ownership because unlike checking accounts, savings accounts, IRA’s or other investments, when you subtract the liabilities that come with those investments, home ownership is still the best performing asset right now and an excellent way to build wealth.
Reason #3 – Renting Is Throwing Money Away
Sadly when you rent, you’re not building any equity at all because the money that you pay for your rent goes to the owner of the property every month so essentially renting is like throwing money away since you don’t get anything back for your money.
Reason #4 – Potential Cash Flow
How many asset you think of that actually produce cash flow? When you own a home you will potentially be able to rent your home in the years to come and have it continue producing cash flow for yourself or your heirs long after you’re gone.
Get an Affordable Mortgage Interest Rate
Mortgage interest rates are currently at an all-time low and are perfect if you’ve been thinking about buying a home or refinancing.
For an affordable mortgage interest rate contact Sun Financial Group today by calling us at (949) 699-1950 or CLICK HERE to start your quote online.