Value of Owning Home in a Depreciating Market

Believe it or not there are buyer’s buying homes in Georgia right now and most of them still see the value in home ownership. It’s not the get rich asset that they thought it would be a few years ago when we had double digit appreciation but now the real value of owning a home is still winning out.

The number one factor in a home is that you can OWN it.

Before you roll your eyes at this statement, think about your car. Do you own your own car? I mean do you at least have a car payment (or own it outright) vs having it leased. There’s a lot of great arguments for leasing but most consumer advocates suggest buying and holding on to the car for 10 years or more.

Why is that? Afterall, a car is a horrible asset. It depreciates the moment you purchase and gets worse as you use it a higher rate than anything you’ll likely ever own. There’s that word again.

See ownership, true ownership is not some fantasy land concept about owning something that gives spiritual power or something. Nope. Ownership (being debt free or building actual equity) is about not making payments to someone else. It’s about being DEBT FREE, it’s about not burdening your family once the debt has been paid off.

Now that home prices have made mortgage payments less than rent, it’s a perfect time to add ownership to your list of accomplishments.

What’s perfect is that once you own a home and learn of the other benefits, you’ll like want to buy another one. Ya know what that’s called? An Investment.