Michelle Millikin

The United States homeownership rate declined in 2010.  Whether renting is better than buying depends on many factors such as how fast prices and rents rise and how long someone plans to remain in the home.  However, if a buyer intends to reamin in the home for more than several years, there may be homeownership advantages to be considered:

Homeowners are happier and healthier and have a greater feeling of control over their lives.

Homeowners pay 80-90 percent of federal income taxes, contributing to federal programs that benefit many.

Every home pumps $60,000 in tot he economy in relation to furniture sales, home improvement, etc.

Housing accounts for more than 15 percent of the national Gross Domestic Product the key driver of the nation’s economy.

Owning a home is one of the best ways to build long term wealth.  Historically, a homeowner’s net worth has ranges from 31 – 46 times that of a renter.

There are even Home Ownership Matters buttons available for purchase along with a new free app called MID Calc, available at the iTunes store, for homeowners to estimate the tax-savings value of their mortgage interest deduction.  This app is compatible with iPhione, iPod Touch and iPad.

As rents continue to rise, the cost of buying a home becomes increasingly attractive.  Our housing market values are at all-time lows and interest rates are as well.  There are a number of programs to help offset our huge inventory.  All buyers should get pre-qualified to determine if they can jump into this great opportunistic time.  If not, credit counseling may be in order.

If you would like to discuss Wausau area home ownership possibilities, please do not hesitate to call me.