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Category: Rent vs. Buy

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Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, Housing Market Updates, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Pricing, Rent vs. Buy.

Some Highlights If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028. Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years.  If you’re worried about falling home prices, don’t be. Many experts forecast they’ll keep rising for years to come. If you have questions, ask a local real estate agent.

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The Dramatic Impact of Homeownership on Net Worth

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

If you’re trying to decide whether to rent or buy a home this year, here’s a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth is almost 40X greater than a renter’s (see graph below): One reason a wealth gap exists between renters and homeowners is because when you’re a homeowner, your equity grows as your home appreciates in value and...

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How To Turn Homeownership into a Side Hustle

Written by Key Largo Mortgage Syndicated User on . Posted in Demographics, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers, Rent vs. Buy.

Does the rising cost of just about everything these days make your dream of owning your own home feel less within reach? According to Bankrate, many people are seeking additional income through side hustles, possibly to cope with those increasing expenses and save for a home. This trend is particularly popular with younger individuals who may be dealing with student loan debt (see graph below):   Here are two strategies that can not only make homeownership more affordable in the short term, but turn it into a lucrative side hustle that can pay off down the road. Transforming the Challenge...

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Why Homeowners Are Thankful They Own

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Countless people have set out on the exciting journey of homeownership. Ask around and you’ll find the vast majority are thankful they took the leap and bought a home. But why? It’s because of the many emotional and lifestyle benefits that come with being a homeowner. So, if you’re trying to decide if you want to rent or buy a home, here are just a few of the many benefits you could look forward to if you buy. It’s a Safe Haven Owning a home goes beyond just having a roof over your head. It provides a sense of security and safety. In fact, in a survey from Fannie Mae, respondents say...

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Homeowner Net Worth Has Skyrocketed

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers, Rent vs. Buy.

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant. The average homeowner’s net worth is almost 40X greater than a renter’s. And here’s the data to prove it (see graph below): The Big Reason Homeowner Net Worth Is So High In the...

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