The best argument made by financial advisors against buying a home is that owning a home is not as good an investment as investing your money in the equity markets. They may be right: traditionally, equity markets have out-performed most homes in this department. Landlords and rental building owners have argued that renting allows you freedom to move around, frees up your money for better things and takes away the stress of homeownership. This too may be 100% accurate, believable and effective. Those who argue against buying a home have done a remarkable job. But they forget (purposefully perhaps since they are beneficiaries of a renting society?) the most important aspect of all: you have to live somewhere. EVERYBODY needs shelter. Americans spend HALF A TRILLION in rent every year. Yes, owning costs lots too: mortgage payments, real estate taxes, maintenance and repairs are not free.
Over a five or ten year period, the cost of renting is not that significant. But when you acknowledge that we have to rent or own a home for over 58 years on average, the argument shifts. A $1,000 per month rent cost translates to over $700,000 in a lifetime, assuming there is zero inflation (wishful thinking!). $5,000 per month rent translates to a $3.5 million lifetime cost…..assuming there is no inflation. (PS: The average rent in Dallas is up around 14% in the past 3 years alone!)
With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions. They specialize in Morris, Somerset, Essex and Union counties.