Rent v Buy – Myths about Homeownership

HHHunt understands that many make a decision to buy a house partially because of lifestyle issues – having a yard for a pet or more space to spread out are important quality of life considerations. However, homeownership solely for the sake of building personal wealth is not necessarily a sound decision.

Below are several myths about homeownership and the contrasting reality.

• Myth #1 - Purchasing a home will provide a huge tax break.
• Myth #2 - Paying rent is throwing away money especially when a mortgage is less expensive.
• Myth #3 - No more rent increases!
• Myth #4 - Buying a home is a great investment.
• Myth #5 - When the interest rates are low, buying is the smartest decision