Is It Really Worth It to Invest in a Home?
Owning a home is a dream for so many people. It’s a sign of security, maturity, and achievement. But, times have changed and people are staying in school longer, with more debt. Marriage and children have been put on the backburner. So, 43 percent of Americans are renting, which is higher than any other time since the 1960s. But are they wasting money?
We want to know, is it really worth it to invest in a home? In this video, we help you weigh the benefits and it all comes down to thinking about where you want to live in the next five years.
And, for some Cliff’s Notes, here’s a rundown:
- There are many hidden costs to owning a home and renting may be a better bet. In fact, for the first few years of owning a home, mortgage costs aren’t paying for your house. They’re paying off interest. So, if you need to move in two years, that money disappears, just like rent.
- How can you make money when buying a new home? Returns aren’t always guaranteed. Prices of homes can always fluctuate and if you bought a home in 2006 versus 2011, you probably haven’t made a thing.
- Instead of buying, you can also rent and invest the money you’re saving because in the end, renting and buying might be more easily matched than you think.
So, depending on your situation and circumstance, renting and buying have different benefits. Just consider what will work best for you.
From our partnership with Chase, we bring you another edition of GOOD Money’s “Everyone Should Know”—a place where interns to entrepreneurs to permalancers to any human can understand how to make the most of their money so that they can take the smartest steps towards living well and doing good.
Teenage Girls Staged A Gorgeous Quinceañera Event To Fight For Sanctuary Cities They followed their colorful display with a march to meet with lawmakers.
Lost Paperwork Could Lead To Billions In Student Loans Being Wiped Off The Books This fantasy scenario may come true for thousands of indebted grads.
How O.J. Simpson Will Profit From His Parole He won’t have to look for work anytime soon.
Reebok Offered A Witty Infographic In Response To Trump Ogling The French First Lady The sportswear giant just laid the smackdown on his misogynistic comments.
This Tone-Deaf Audi Ad Pretends It’s Fine To Compare Women To Used Cars Who thought this would be OK?
This Tattoo Parlor Is Paying For People To Remove Their Racist Ink “It’s actually made me a better artist.”
Trump Just Said He Created 45,000 New Mining Jobs With No Evidence To Support The Claim Official figures come in far, far lower than Trump’s claim does.
‘Burial Pods’ Break Down Organically To Minimize Waste And Help Grow Trees The innovators hope to reverse the wasteful and harmful trend of traditional burials.
Delta Airlines Hits Back At Ann Coulter After Her Vicious Twitter Attack Over $30 Only she could make an airline likable by comparison.