Change the Direction of Your Fan Blades for Winter

Change the Direction of Your Fan Blades for Winter

Most homeowners buy ceiling fans to keep cool in summer, but fans can help you stay comfortable year-round. With a few simple adjustments, you can change the direction of your ceiling fan blades to help your home stay warmer this winter. Help your fan do a 180. Change the turning direction of the fan blades to disperse unused warm air throughout your house. We’ll show you how.

What’s in it for you?

  • Stay warmer in winter
  • Keep your energy use and utilities low
  • Get the full benefits of your home features

 

change direction of your fan in winter

How to Change the Direction of Your Fan Blades for Winter:

  1. Turn your ceiling fan on to observe the direction it’s currently turning.
    In summer, the blades on your ceiling fan should turn counter-clockwise. This pushes cool air down and helps warmer air in your living space rise. You want the opposite to happen during the winter months. By switching the blades to turn clockwise, the fan will draw in the warm air from the ceiling and spread it throughout the room. Unless your blades are already turning clockwise, you’ll need to change their direction. This is easy for any homeowner as long as you have safe access to your ceiling fan.
  2. Turn the fan off so you can adjust it without injury.
    Spend a few seconds on safety. Shut your fan off, and make sure it’s done turning before attempting any changes.
  3. Use a ladder to safely access the ceiling fan base.
    Is the fan too high to reach on your own? You’ll need a sturdy step ladder or trestle extension ladder to reach your fan. If you don’t have a ladder tall enough for the job, try an extendable grabbing tool with rubber ends, to protect your fan’s finish.
  4. Locate the ceiling fan spin direction switch.
    On the body of your fan, you’ll find a small switch that controls whether the blades turn clockwise or counterclockwise. Generally, the top or left-hand setting is for summer and the bottom or right-hand side is for winter use. Check your owner’s manual to make sure of your unit’s settings, then flip the switch into place.
  5. Turn the fan on again to make sure it’s turning in the proper direction.
    Ceiling fan parts wear out over time, so you may find the direction spin switch doesn’t function. If, after moving the switch to the clockwise setting, it’s still moving in the opposite direction, call a professional for repairs.

How Property Taxes Can Impact Your Mortgage Payment

How Property Taxes Can Impact Your Mortgage Payment

When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area?

When applying for a mortgage, you’ll see one of two acronyms in your paperwork – P&I or PITI – depending on how you’re including your taxes in your mortgage payment.

P&I stands for Principal and Interest, and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance, and they’re all important factors to calculate when you want to determine exactly what the cost of your new home will be.

TaxRates.org defines property taxes as,

A municipal tax levied by counties, cities, or special tax districts on most types of real estate – including homes, businesses, and parcels of land. The amount of property tax owed depends on the appraised fair market value of the property, as determined by the property tax assessor.

This organization also provides a map showing annual property taxes by state (including the District of Columbia), from lowest to highest, as a percentage of median home value. The top 5 states with the highest median property taxes are New Jersey, New Hampshire, Texas, Nebraska, and Wisconsin. The states with the lowest median property taxes are Louisiana, Hawaii, Alabama, and Delaware, followed by the District of Columbia.

Bottom Line

Depending on where you live, property taxes can have a big impact on your monthly payment. To make sure your estimated taxes will fall within your desired budget, let’s get together today to determine how the neighborhood or area you choose can make a difference in your overall costs when buying a home.

Want to add a patio fireplace? Here’s a quick guide to get started

Adding an outdoor fireplace can be a great way to liven up your backyard or patio area. Not only do outdoor fireplaces provide a unique visual aesthetic, they can also serve a functional purpose. Even though it’s outside in the open air, the heat produced by an outdoor fireplace can actually keep the surrounding area fairly warm on cool autumn evenings. Before you decide to have an outdoor fireplace installed, though, there are a few things you should take into consideration.

Fireplace Materials

Depending on the look and functionality you want, there are a few different options available in regard to what your fireplace can be made of.

Commercial outdoor fireplaces made of iron, steel or other metals are available for purchase and installation as-is. If you’re building the fireplace itself, materials such as concrete, brick and stone are often used. In many cases, a concrete or stone fireplace will feature supplemental components made of metal such as fireplace grates and racks to hold logs or other fuel.

Chimneys

Another important aspect of your outdoor fireplace is the chimney. Even though the fireplace is outside, you still need to divert smoke up and away from you and your guests as there are a number of hazardous materials found in fireplace smoke. A number of options made of metal or other heat-resistant materials are available, and it is also possible to build a chimney from brick or stone as well. Even if the chimney is constructed from one of these materials, a liner may be needed to prevent smoke from leaking out of cracks or gaps in the chimney construction.

Fuel Options

Wood is the most popular fuel option for outdoor fireplaces, though it is not the only one. Propane fireplaces are also a possibility, though fuel lines will have to be run through the fireplace material so that the tanks can be hooked up safely away from the fire. Other less common options include pressed wood pellets, charcoal and even some forms of biofuel.

Cooking Options

Many people who own outdoor fireplaces use them for cooking as well, allowing the fireplace to double as a rotisserie or a wood-fired pizza oven. This may restrict some of your fuel options as the fuel needs to be food safe, and the fireplace design will need to incorporate a large enough chimney to prevent excess smoke from building up around the food. Depending on the design you want, additional components such as metal cooking grates, a heat stone, rotisserie controls or other features may also be needed.

Cleaning and Maintenance

As with any fireplace, an outdoor fireplace will require periodic cleaning and maintenance. This is especially important before winter as the fireplace will be exposed to potential freezing temperatures and other inclement weather that could cause cracks or other damage to appear. The fireplace should have a visual inspection every few months for signs of problems and should have its chimney cleaned at least annually. After any period where the fireplace has not been used for more than a few weeks, the chimney should also be checked to make sure that birds or other animals have not attempted nesting or otherwise created potential blockages within the chimney.

Other Considerations

Before installing an outdoor fireplace, be sure to check and see whether there are any restrictions or ordinances in place in the city where you live. If you’re in a homeowner’s association, you should also check to see if they have any rules concerning outdoor fireplaces. You may be restricted in the materials you can use, the fuels you can put in it, the height of your chimney and even the location of the fireplace, in regard to nearby vegetation or buildings. Installing an outdoor fireplace without checking this first could result in fines or possibly even having to remove the fireplace entirely.

Ready to Build?

Now that you have a better idea of what you’ll need, are you ready to find someone to build or install an outdoor fireplace for you? Contact The Indigo Skye Team for recommendations on who can help you create the outdoor fireplace of your dreams.

Organization for the Disorganized

If you’ve heard of Western Minimalism or Japanese KonMari, you know that these are principles that promote happiness through living with fewer possessions and eliminating clutter. These intentional lifestyles allow only items that make you happy and are useful to live in your home. By eliminating clutter, or things that don’t bring you joy, you’ll experience less stress and have more time and money to spend.

Organization for the Disorganized

The applications of “less is more” to home ownership and home selling are obvious. With less clutter, your home will be cozier, easier to navigate, show better to homebuyers, easier to keep straight, and easier to pack up when you sell.

The most disorganized areas in your home are typically closets, countertops and drawers. Here are a few tips to make decluttering faster and easier:

  1. Start small, one closet or drawer at a time.
  2. Assign a home for every item in the appropriate room.
  3. Organize so that you can see at a glance what is available in every storage space, from kitchen cabinets to dresser drawers.
  4. Fold sweaters and socks vertically so you can see every item.
  5. Use marked containers for small, miscellaneous or boxed items.
  6. Keep only beautiful, favorite or currently useful items.
  7. Don’t let guilt force you to keep anything you don’t want, such as gifts or expensive items you don’t like. Instead, offer these items to people you know or donate them.
  8. Remove donations and discards from the house the same day.

Related article: Buying a House this Year? Here is the 1st Step.

How to Avoid Typical Home Renovation MIstakes

How to Avoid Typical Home Renovation Mistakes

Very few people start a home renovation project because they are just too bored and have cash to burn. The reality is that most of us choose to do it either because it’s really necessary or we see it as an investment that should pay off when we sell the home. Whatever the reason, everyone who has ever renovated their home will tell you it’s anything but easy.

Unfortunately, this is something that most people do only once or twice in their life, so there is little experience to back the wishes and expectations, which leads to some mistakes that can prove really costly. In order to help you avoid such mistakes, we’ve prepared a list of most common home renovation mistakes that many homeowners and designers mention as not only the most typical, but also those that can be easily avoided.

Unrealistic expectations

Like with most things in life, a failure of such a project is often the result of unrealistic wishes and expectations. Such dreams often remain dreams because of a lack of funds or some issues that have emerged unexpectedly. What you need to do is be optimistic and enthusiastic, but with both feet firmly on the ground.

Wrong home

Before you start considering individual renovation tasks, ask yourself whether the whole project is worth your time and money. Perhaps you’ll need to invest the money that you’ll never get back if you’re planning to sell your home. Or you’ll realize that the home itself is not suitable for you and your family regardless of how well you renovate it.

 

home renovation indigo skye group blog

Budgeting

One of the most important parts of each project, and home renovation is no exception, is budgeting. Not many people can afford to find additional funds for such a project with ease. For some it is simply impossible, which is why careful and precise budgeting is vital. A good piece of advice is to allow some room for unexpected expenditure, just in case, since you don’t want a single problem to jeopardize the whole project.

Disregarding the layout

Renovation means you’re working with something that someone else has already designed and you’re merely adapting it to suit your needs. That’s why you have to consider the layout carefully before you start building or installing lights, for example. Let’s say you wish to install a chandelier. Is there a beam in the ceiling to support at the exact spot? If not, you have to add it.

 

home renovation indigo skye group blog

Don’t forget the appliances

Regardless of whether we’re talking about the living room or the kitchen (which holds most appliances in a typical household), forgetting to plan outlets for them and considering the size of all appliances is another typical mistake that many people make. So, make sure you don’t forget an appliance and see to it that they all fit the space you’ve provided for them.

Relying too much on DIY

It’s only natural that you want to save as much as possible by doing something on your own, without professional help. That’s great and most people can perform some simple tasks without endangering the prospects of the project. Still, when it comes to matters of safety or those extremely important to the final outcome of renovation, you should turn to experts. If you have never painted a wall, don’t start practicing now, but hire reliable providers of top quality painting services.

 

home renovation indigo skye group blog

Timing is crucial

Renovations take time. So, be patient, but don’t let your project drag for too long, since that leads to more expenditure, more stress and more sleepless nights. In order to keep the project on track, you need to order everything on time, make arrangements with the contractor or professionals and still allow some time for possible delays. The problems occur when the whole project comes to a halt because something that has come up unexpectedly. While you can’t influence everything, you can nip many things in the bud.

The cheapest is rarely good enough

It’s perfectly understandable that you want to keep your costs to the minimum. After all, you’ve worked hard and saved money for this and you don’t want to waste it. However, be careful not to replace shrewdness with being frugal. Sometimes you just have to pay a bit more to get the quality you need. It’s not just that, even. For example, installing cheaper lights means you’ll have to pay higher electricity bills and also replace such bulbs more often, which translates into actually having to spend more.

 

home renovation indigo skye group blog

Changing your mind too often

Every change you make along the way is bound to affect the budget or deadlines and often both of them. That’s why you need to try your best to stick to the original plan at all times. This also means that your plan has to be as precise and detailed as possible and that everyone involved in the renovation knows exactly what they are supposed to do. The more thought you put into the project before it starts, the less likely you’ll be to make amends afterwards. Basically, remember the five P’s: perfect planning prevents pathetic performance.

Every home renovation project is complex, stressful and requires substantial human and financial resources. Still, if executed well, it creates a lot of added value. That’s why you should take it very seriously, especially since most people are usually in charge of such projects once or twice in their life, leaving very little time for learning and gaining experience.

 

Related Article: Buying a Home This Year? Here’s What to Watch

Save Thousands in Interest on Your Mortgage

How to Save Thousands of Dollars in Interest on Your Mortgage

One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up saving you money over the life of your loan.

Any additional payments to the principal amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will pay over the life of your loan and can also help to shave years off the loan as well.

When you make ‘extra’ payments toward your loan, the key is to let your lender/bank know that you want the extra funds to go toward your principal balance as they will not automatically do this for you.

You don’t have to double your mortgage payment to make a big difference either!

If you have a 30-year mortgage on a median-priced home ($250,000) with a 5% interest rate, you’ll be responsible for a $1,342.05 monthly principal and interest payment. Over the course of the loan, if you pay your exact monthly payment, you will have paid $233,133.89 in interest alone!

Paying a Little Extra Can Pay Off Big

1. Pay an additional 1/12th of your mortgage payment every month

Benefit: In the example above, adding $111.84 to your monthly mortgage payment might not seem like a lot, but each year you will have paid one extra month’s worth of payments which will shorten the term of your loan by 4 years and 8 months, all while saving you $42,000 in interest!

2. Pay an additional $50 per month towards your mortgage

Benefit: Fifty dollars might not seem like enough to make a difference on the term of your loan, but that small amount will save you over $21,000 in interest and will take over 2 years off the end of your loan. Twenty-eight years from now, you’ll be happy to pay off your loan that much sooner!

3. Make one-time lump sum payments when you can

Benefit: If you find yourself with a little extra money after a yearly bonus, a tax return, or from investment dividends, paying that money towards the principal can cut your costs. This option, however, is less predictable than the extra monthly payments.

If you have higher interest debts, like credit cards, consider using any extra funds you have to pay those debts down before applying that money towards your mortgage. Also, if you do not plan on staying in your home for more than 10 years, paying extra toward your mortgage might not make sense.

Bottom Line

If you’re wondering what strategies would work best for you to shorten the term of your loan, let’s get together to answer your questions.

 

Related Article: Where are Interest Rates Headed in 2019?

Are Homeowners Renovating to Sell or to Stay?

 

Are Homeowners Renovating to Sell or to Stay?

Over the past few years, two trends have emerged in the housing market:

  1. Home renovations have shot up
  2. Inventory of homes available for sale on the market has dropped

A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply.

This low inventory environment has many current homeowners worried that they would be unable to find a home to buy if they were to list and sell their current houses, which is causing many homeowners to instead renovate their homes in an attempt to fit their needs.

According to Home Advisorhomeowners spent an average of $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers.

A new study from Zillow asked the question,

“Given a choice between spending a fixed amount of money on a down payment for a new home or fixing up their current home, what would you do?”

Seventy-six percent of those surveyed said that they would rather renovate their current homes than move. The results are broken down by generation below.

More and more studies are coming out about the intention that many Americans have to ‘age in place’ (or retire in the area in which they live). Among retirees, 91% would prefer to renovate than spend their available funds on a down payment on a new home.

If their current house fits their needs as far as space and accessibility are concerned, then a renovation could make sense. But if renovations will end up changing the identity of the home and impacting resale value, then the renovations may end up costing them more in the long run.

With home prices increasing steadily for the last 6.5 years, homeowners have naturally gained equity that they may not even be aware of. Listing your house for sale in this low-competition environment could net you more money than your renovations otherwise would.

Bottom Line

If you are one of the many homeowners who is thinking about remodeling instead of selling, let’s get together to help you make the right decision for you based on the demand for your house in today’s market.

10 Great Design Trends for Fall/Winter 2018

“Navy is the hottest colour this season, old fashioned pinks are back and, hello gold carpet!”

It’s that time of year where the shiny new Design Trends for autumn and winter appear, so we’ve compiled our top 10 for you to peruse before the temperature starts to drop.

Rich tones, colour blocks, a touch of black and big flouncy florals are what’s to come this autumn and winter. Below we show you how to create these exciting design trends in your home this coming season.

1 – Oversized Florals

oversized florals fall 2018 home decor trends indigo skye group blog

This is a really lovely trend – who doesn’t love flower prints and on a large scale? Look out for big blousy designs that have a pre-Raphaelite style and you’ll find them on cushions, bedding and as murals (shown here). Keep the rest of the look simple, so the florals become the star and pick out key colours to accessorise with.

2 – Modern Neutruals

fall 2018 home decor trends indigo skye group blog

This is a combination of different elements that creates a beautiful and simple look with the emphasis on natural-looking furniture. As Kate Butler, head of design at Habitat, explains: ‘Here there’s been a focus on stripped timbers, wood grain and a return to simple, natural patinas and materials within furniture.’ Team this with gently patterned crockery, soft grey chairs and a neutral block coloured textured rug to complete this calming trend. One of our favorite design trends perfect for family life!

3 – Gold

fall 2018 home design trends indigo skye group blog

Although we had gold as a trend back in spring/summer, it’s still very much here and you’re going to see even more of it this season! So how about using it in a different form instead of as an accessory? Yes, that’s right – GOLD carpet, and isn’t it fabulous, especially with this Mid-Century modern furniture?

4 – Jet Black

fall 2018 home design trends indigo skye group blogDesign trends, no matter what season, seems to always favor black and white. Fans of monochrome will adore this trend. It’s all about the accessories – and they need to be black. But if you’re not a massive fan of large amounts of black you can make this trend work by using small blocks here and there. Like this beautiful beaded pendant, console and shelving unit. Combine this look with tactile pieces and white to balance it out.

5 – All the Pinks

Dusty, old fashioned pinks are all the rage for autumn which is a perfect antidote to the usual rusty tones we see, and as it’s such an easy-on-the-eye colour it’s simple to apply to our homes. We asked Karen Thomas, head of design at Home at Marks & Spencer to explain this trend: ‘Adding warmth and colour to your home, these tones will work especially well alongside metallic, contemporary greys and the new wave of darker neutrals. If you’re feeling bold, go for statement upholstery in vibrant pink velvet or for a more understated look try painterly florals and layer textures and fabrics to add interest.’

6 – Tactile Kitchens

Kitchens are undergoing a change, no longer are they simply all about one style of units, a worktop and a complementary splashback. This seasons design trends are all about mixing it up – different textures sat next to each other, contrasting in both colour and touch. ‘A sleek quartz work surface with an integrated solid wood chopping board or dark cabinetry against a clean marbled splashback, makes for an eye-catching space, and one that is full of character,’ says Daniela Condo, designer at Life Kitchens.

7 – Bright Shapes

Playful and full of colour, this trend is certainly a happy one. Look out for bold shades in different shapes – stripes, geometrical, spots and blocks and you can’t go wrong. Pop it all together and you’ll have this trend spot on. Lois Vincent, home designer at House of Fraser, says: ‘Its design DNA lies in its mix and match of graphic geos, bold colours and clean lines. Running through it all is a confidence to clash not match. The only rule? Make it modern.’

8 – Scandi Goes Vintage

Think Scandi combined with nostalgic designs from Sainsbury’s packaging archives and this is the eye-catching result, as Andrew Tanner, design manager at Sainsbury’s Home explainsL ‘This new dining range evokes 1950’s nostalgia with a modern Scandinavian edge, and embodies the excitement and post-war boom of the era. Updated with a yellow and deep aqua blue colour palette, this collection is a must-have to bring a vibrant pop of colour to the dining table, designed to be mixed and matched for informal, vintage style.’ Team it with pale blond wood furniture so the design sings out and keep the styling simple.

9 – True Blue

Navy is the BIG colour for these coming seasons, gentle on the eye yet moody enough to be perfect for the winter months – you’re going to see it everywhere. Here, it’s been teamed with gold and this wallpaper is inspired by sashiko, a form of functional embroidery from Japan that uses geometric stitching to mend areas of worn clothes. Keep accessories simple and let this dazzling wallpaper be the focal point of your room.

10 – Artisian Folk

With all of us spending more and more time on social media, there’s a move towards more conscious and folk-inspired handcrafted homewares. Having pieces that feel great will be key; tufted rugs, decorative quilts and rattan lampshades, as shown here, will all be popular. There’s a need for textures that create interest visually whilst retaining a cosy feel to help us through those darker months.

 

 

 

Related article: When selling your house, don’t forget to STAGE!

Article first published by Home Beautiful.

Freshen Up Your Home With Spring And Summer Updates

Updating your home can seem like a huge blank, especially if it’s been a while. But there are easier ways to freshen it up and make it look spring and summer ready that won’t break the bank and won’t create a long drawn out hassle. Each of the each of these updates represents a current trend and something you can pull off yourself this weekend if you’ve got a little time a little scale and a little skill.

Take it to the floor

Some of the freshest rugs out there combine a couple of trends. There was a time when the Persian rug dominated informal spaces. Take a look at this one from Wayfair? The Warren luck brings in vintage feel but the color palette is all new. This is an easy and affordable way to instantly update a living room with fresh, bold colors that will get you were space noticed.

“If there’s one piece to invest in this spring, it’s a rug,” said The Glitter Guide. “It’s a surefire way to bring interest and style to any room. Try a colorful pattern or print.”

Brighten up the bedroom

While you’re thinking about patterns…”Swap in a patterned headboard,” said Elle Décor. “You don’t have to grab your paint rollers or ready the wallpaper to revamp a bedroom. Upgrade the centerpiece of your room – the headboard – to something bright and cheery.”

Patterns, patterns, patterns

Mixed prints have been all over the runway, and you can create a similarly textured and stylish look at home. Mix it up, mash it up, and freshen it up with an assortment of prints – florals, houndstooth, stripes, graphic patterns. You can create a look that brings depth to your space by using one main color as your anchor and then creating a mix of patterns around it.

Coordinate your pet decor

Your basic scratching post or dog bed may fade into the background for you but they can stand out like a sore thumb to visitors. Pet decor has come a long way, and no matter what style you’ve got going on at home, you can find something to match, blend in, or even stand out—for all the right reasons. Stores like HomeGoods and Target and blank all have tons of options that are affordable. But if you’re looking to break the bank, perhaps consider this.

New appliances

Lowe’s and Home Depot have both been running spring specials with appliances that are 35 to 40% off. These discounted prices could easily lead to you redoing your whole kitchen, but a new fridge Cheryl freshen up your kitchen. If you really want to make the purchase of painless, look into financing and both of the stores if you can get the 0% interest deal over 24 or 36 months you really don’t feel the crunch of putting out a lot of money upfront.

Paint, paint, paint

They really are few places in your home in and out of your home for paint can’t make a huge difference, and with such a low dollar commitment, you just have to pick and choose your projects. We love this one for blank, and also this blank

Bring in the flowers

When spring flowers start blooming, we have a natural desire to bring them into the home. After all, just the smell of fresh flowers can lift our mood. “Flowers always brighten up a space, no matter what kind you use,” said The Spruce. “You also don’t need a lot of them. A small floral arrangement on a table, mantle or windowsill makes a big difference. What’s particularly great about flowers is that every color and combination works together, so it’s a great way to experiment with colors you wouldn’t normally put together.”

Big, bold floral patterns are also a huge trend this season, so, while you’re thinking about how to display your cut roses, consider where you can make a splash on the walls, on an upholstered piece, or even xx

Frame your windows

Another easy way to bring an additional layer of interest to your home is with modern window coverings. Already have blinds or shutters? Framing the windows out with drapes that can be changed seasonally is a great way to create an interior that always looks updated and call attention to the outdoors and to your architecture (or create architecture where there isn’t much).

Shop your home

You can give areas of your home a whole new look without spending a dime. “I love updating the look of our home by styling the coffee table, accent tables, shelves, countertops, and mantel,” said Jane at Home. “One of the reasons I love styling is that I can use items I already have on hand.  If I don’t like how something looks, I can easily change it by moving things around or bringing in new items from another part of the house.”

Some of her styling tips include: “Use stacks of books to raise objects off the surfaces; combine items in groups of threes–preferably with a tall item, a shorter, more sculptural item, and a horizontal item; balance hard and soft objects, as well as things with different textures, colors, tones, and styles; layer–placing some things in front of others and some off to the side–to create more depth and give the space a more natural look.”

Some great ideas here! If you are ever in need of ideas for your home decorating,  or a vendor to carry out your home maintenance needs, be sure and reach out to the Indigo Skye Group!

NOT Owning Your Home Can Cost You a Lot of Money!

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Realtor.com recently reported that:

Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

1. In a previous blog we highlighted the top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2018 could build more than $44,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.