Take those thousands of dollars in tax return, and go on a nice Cruise around Jamaica!

5. WEALTH:

It?s arguably much, much harder for a renter to build wealth. There is no built-in mechanism for appreciation, whereas the homeowner has postured themselves wisely for the future.

1. Let?s say we have a renter that wants to get wealthy. Great! They must go find a business to run, or a stock to invest in, or come up with a great invention, or be the next rock star, or follow a family friends ?tip?, and go do Cattle Futures from August to September (just an example, folks?I don?t know anything about cattle?). In any event, most people would be concerned that our renter is following the proverbial ?pipe dream? towards wealth.
   

2. But let?s say we have a homeowner who wants to build wealth. Great! What do they need to do? Simple?.Nothing?Pay the mortgage?Live in the house?Go work your job. That?s it. Real Estate appreciates in value, on average, over the long haul, like no other financial vehicle. It is a virtual certainty, and it is automatic. The homeowner controls the total value of the home. That?s the magic of leverage.
   

3. Let me drive the point home: Someone might buy a house at $150,000, let?s say, and over the course of 7 to 10 years, it is completely reasonable to suggest that this very same house could be worth around $600,000.
   

Renters do not have a built in advantage for building wealth, whereas Real Estate appreciates in value as a virtual certainty. They don?t call home-ownership the ?American Dream? for nothing!

SUMMARY:

The subject of deciding on whether to Buy or Rent, is not simple. In the end, it boils down to a question of complexity. Being a Renter is simple. Being a Homeowner is more complex, and yet, that does not mean that it is not within your grasp. It IS!!! There are so many people that are just waiting in the wings, yearning to help you get there. Real Estate Agents, Mortgage Brokers, Friends, Family, etc.

With all of these resources around you, just about anyone can own a home, and in this great country, the American Dream of Home Ownership is completely within all of our grasps!

But do me a favor. Give yourself the time to examine these important questions first. Look within. As we all get older in life, we yearn for more. Buying versus Renting is a common theme in this journey. As we wave goodbye to the younger years, we say so long to the simplicity of life, and we say hello to the promise of prosperity, wealth, and a better tomorrow. We also say hello to higher, more complex things. Often times, it?s simply the willingness to accept complexity that will get you to the understanding you need.

Best of luck on your journey, from Renting to Owning your next Home!

We?ve enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loan-resources.org , or you can email Tom at info@loan-resources.org .

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