There are pros and cons to renting a house, and there are pros and cons to owning a house. This article offers a comparison of owning vs. renting a home. Keep reading for information on the benefits of owning versus renting a home.

Home Ownership vs Renting

There have been recent articles written about the positives of renting one’s home rather than purchasing.  There is a time in one’s life, maybe a few times, when renting is the logical option; however……………………

Owning a home has always been the American dream, and for those who manage to achieve this there is a sense of stability, a feeling of safety and security.  In areas that are predominately owner occupied there is a lower crime rate.  You will also find that home owners tend to be educated and civic minded.  Homeownership is a means of achieving social and financial well-being.

The National Assn. of Realtors released an interesting group of studies regarding this subject which support the previous mentioned facts.  Homeownership is beneficial to our communities and our nation; therefore we need to support the incentives that are and will be legislated to help make ownership possible.

For most of us, purchasing a home will be the largest investment of our lives.  As with all investments, timing is critical.  Location, cost and type of financing are also of utmost importance. 

Do not be misled by those who have purchased at the wrong time, used questionable financing tools, or lost a home due to employment issues in the recent economic upheaval.  Recovery will come.  For those who are able, the time is so right for purchasing - low interest and great prices exist in almost all areas of the country.