Real Estate: Is It Better to Buy or Rent?
(New York, NY)—The current economic crisis and housing crush have resurrected a long-simmering debate among financial and real estate experts: whether people should rent or buy their homes.
As it turns out, a majority of Americans believe that it’s almost always better to own your home rather than to rent, according to Reuters. And some industry experts concur.
“I believe that there are many reasons to buy today,” says Steve Dexter, co-author of the new book “Buy & Hold Forever: How to Build Wealth for the 21st Century.” “The historically low property prices, record low mortgage rates and tons of unique real estate bargains are the main reasons to become a property owner now instead of a renter.”
In the book, Mr. Dexter and David Schumacher reveal investment techniques that can work in the midst of a slow real estate market or a booming one, for first-time buyers or seasoned investors, and for buyers of single-family residences, apartment buildings or shopping malls.
“For many people, home ownership provides security and investment opportunity,” says Mr. Dexter. “However, people should know that buying a property is not a quick way to make money. It won’t give them a good return unless they hold it for at least eight years. The rule is to buy and hold.”
Some experts believe that homeowners can make more money if they buy a house, live in it and sell it than they can on the stock market.
The best time to become a property owner is when:
• Property prices are low
• Mortgage rates are low
• Your move is long-term
• Property values not deteriorating
“Real estate is generally one of the best investments,” says Mr. Dexter. “The challenge is to identify when to buy and when to sell to maximize returns on property investing.”
About the Authors
DAVID SCHUMACHER, PhD, was an investor, magazine columnist and college instructor in the field of real estate. One of America’s premier experts, he was also a multimillionaire property owner. He parlayed a modest investment into property holdings worth $20 million, including houses, condos and magnificent oceanfront apartment complexes in Southern California. He also authored “The Buy & Hold Real Estate Strategy” and “Buy & Hold: 7 Steps to a Real Estate Fortune.”
STEVE DEXTER is the president of National Capital Funding, based in Laguna Beach, California, and an expert commentator for CNN/Money, CBS Radio and Fox TV. He is the author of “Real Estate Debt Can Make You Rich” and “Beat the Banks: How to Prosper from the Rising Wave of Bank Foreclosures.”
- Contact Information
- Steve Dexter
- Schumacher Enterprises
- Schumacher Enterprises
- Contact via E-mail
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