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(English) Is Homeownership a Good FINANCIAL Decision?

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4 comentarios
  1. goldye
    goldye Dice:

    This article does NOT give true facts or a reality check. While most of the U.S. would apply in above article, it does NOT represent expensive cost of living areas i.e. New York City, Los Angeles, Boston, etc. and their suburbs. Housing and monthly expenses force many residents to rent vs. home ownership because property taxes, listing prices, maintenance and closing costs are more expensive than renting. You do not save any money or have a higher net worth after buying a home in one of these expensive cities. I saved more money renting over 30 yrs. in the NYC area than if we purchased a home. We recently purchased a condo so now we’re finally homeowners after 30 yrs.

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    • KCMcrew
      KCMcrew Dice:

      Thank you for commenting. We realize that, in some cases, over the last 30 years it may have made sense to rent. As a matter of fact, in the blog post, we linked
      to a study that shows that. However, right now, this is not the case. According to a recent study by Trulia, the only two cities in the U.S. that it is not less expensive to buy are San Francisco and Honolulu.

      Regarding our facts, we linked to three different experts:

      1.) Ken H. Johnson, Ph.D. — Florida International University (FIU) and Editor of the Journal of Housing Research.

      2.) The Joint Center for Housing Studies at Harvard University

      3.) A Certified Public Accountant

      Which of their ‘facts’ are you disputing?

      I’m glad you did well renting over the last 30 years. However, do you really
      believe that the rent you paid was less (unless you were in a rent controlled
      unit) than the expenses the landlord incurred for that unit? Very view
      landlords/investors rent a unit for less than the unit actually costs them.

      Responder
  2. Chezkir
    Chezkir Dice:

    Home ownership is still an investment if you buy an owner occupied multi-unit and manage it wisely. For me, living in a small apartment with 2 other apartments to help pay the mortgage: (A) means my net expense is $500 plus utilities; (B) means I can share the mortgage cost without having roommates share my space; (C) meant I could buy an entire building and control it, on short sale, in 2009, for $15,000 less than I sold my condo for, in 2008; (C) has been a boon while I am unemployed / underemployed. And it has many tax advantages.

    Responder

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