Should I rent or own my home?

Asked by Jenniferlangham

2 Answers

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Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi Jenifer.
It's an individual answer. I can give you some insight on a multidisciplinary approach to this question:
What does owning mean to you? Emotionally and psychologically there many directions here.
As an investment, the focus becomes ROI (Return On Investment). What are you getting in return for investing your dollars into this venture and where else can your money work more efficiently for you?

We get calls from folks who are house rich and cash poor and we get the inverse as well. We just want you to be lifestyle rich and enjoying it.

Feel free to contact us directly to dig deeper into this. We have lots of no-cost educational materials. No obligation.

It's not what you make, It's what you keep that determines your lifestyle. | 05.07.16 @ 15:45
Comment 1  
Omar — Being emotional! That's a good way to phrase once we have life experience and goals. Thanks for bringing that up Dave. There are some basic steps which are important to learn. You need 3-6 months worth of savings. Save on your own or together if you've got a joint account (worst case scenario consider a bank like Capitol 360 and enroll in electronic emails or updates but no mail). I'm not advertising for anyone but the idea is with them there is no overhead charges, just saving automatically and creating a habit in which you contribute to your future. Please compare rates. Be prepared for a "rainy day" if you don't take my thoughts into consideration. Be happy! | 05.12.16 @ 02:17
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$commenter.renderDisplayableName() — {comment} | 12.06.16 @ 14:30
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Answered by Howard
A house is a place to live and not an investment. While home ownership is expensive, rents have also become increasingly expensive. If you can afford a home, as you pay down the loan, you get equity into your house. Renting gives you nothing but a space month-to-month - of which the rent will continue to go up, as opposed to a fixed mortgage. | 05.10.16 @ 20:23
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$commenter.renderDisplayableName() — {comment} | 12.06.16 @ 14:30
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