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2015-06-24 09:08:19
Save Money Owning a Tooele UT Home

save on a tooele home

How Much Money Will I Save by Owning a home?
For all you renters out there in Tooele UT, here is a post you MUST read. Gene Riemenschneider of Home Point Real Estate posted this on Active Rain in early June. Gene shared 10 reasons why buying a home is better than renting. Most of the reasons were obvious, but the one that I was reminded of and want you to read was the one about leverage, and return on investment.

The concept is simple, so let's look at it with simple numbers. Say a $100,000 house. (yes there are some in Tooele County, but not many). You make a 3% down payment. This means you control a $100,000 assett for $5,000. If the home increases in value 3% the first year, that five thousand dollars has earned you $3,000.

Now I know it's not that simple, and I don't give investment advise, but the concept is worth looking into. Right?

Here is what Gene had to say. Be sure to click on the more button to see the entire list.. 

How Much Money Will I Save by Owning a home?There is a lot of debate about if you save money by owning a home. I see some Investment Pros argue that if you put all your housing money into other investments you would make more money. What these “Geniuses” never seem to consider is that you have to live somewhere. Yes we all have to move out of our parents basement sometime and that generally means rent! Unless you have put yourself in a position to buy.
You will not save any money by not buying a home (unless you live in your parents basement or other similar arrangement). So all that money you are saving for the stock market, bonds, silver, gold, or commemorative plates, will end up going to rent.
If you have extra money I can see where the argument can be made for any of these investments (although real estate is still the best – Ask Me Why!), but before you can invest you need a place to live.
If you are renting you should call me and we can run the calculator on your situation, but here is what I find:
The people I am seeing buy homes
... more

Want to know more about buying a home in Tooele UT? Went to see all of the homes listed in Tooele County?

Give me a call. Berna Sloan 435-840-5029. I can show you how much money you can save by owning a home.


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