Monday November 18, 2013
Rent orbuy?This question has likely crossed the minds of most adults at some pivotal stage of their lives. Although this is a common decision to have to make, financial experts almost always reply with the same answer: buy.One major benefit is the tax deduction of the amount of interested paid toward a home mortgage.But there are other compelling reasons as well:In 2010, the Federal Reserve determined the median net worth of a household was $77,300. (Results for 2013 will not be available until early 2015.)To illustrate what this means, after all household assets (stocks, bonds, house, cars, IRAs, 401(k)s, gold, equity in private businesses, checking and saving accounts, certificates of deposit, liquid cash, etc.) are added up and liabilities subtracted (mortgages, student loans, credit card debt, etc.) a household?s median net worth was $77,300.The median net worth for those who didn?t own a home? $5,100.Source: The Federal Reserve Board’s Survey of Consumer Finances for 2010.With current interest rates and a lower home supply (combined with high demand), now is a great time to own one of CB JENI?snew homes for salein the Dallas area!Contact ustoday!