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Does Buying a Hawaii Home Really Make More Sense Than Renting One?

No, I’m not writing about this property, but now that I have your attention…

I was reading an article about buying versus renting and I found some interesting facts that I’d like to share. Finances aside, a Fannie Mae National Housing Survey showed that 4 of the biggest reasons why people buy a home have nothing at all to do with money.

The four biggest reasons people buy a home are:

  1. They want a place to raise and educate their children
  2. They want to live in a place where their family will feel safe
  3. They want to have plenty of living space
  4. The want to have control over that space

The decision to own versus rent is not always made based on finances, or where the market is. Money shouldn’t be the only deciding factor in making that decision. The cost of a home will remain unchanged even if home values continue to decline marginally. You can never put a price to the happiness and well being of your family.

As a tenant, you have no control over the property in which you live in. When you own your home, you can do with it whatever you want…well, maybe you have to involve the County if it involves construction. What better place for your children to grow up than in Hawaii? I was fortunate enough to have been born and raised on Maui. I attribute many of the traits that I have developed over the years because of my upbringing.

If you are interested in becoming a homeowner, don’t hesitate to contact me.

Ken Molina, R(S) 
808.344.6421 
ken@hawaiilife.com

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Ron Margolis

August 5, 2011

Something else to consider is there is the tax benefit of owning a home. You get to deduct the interest up to 1,000,000 of your acquisition costs and the interest of up to 100,000 in home equity. WHen you run an analysis of rent versus buy figuring the tax benefits of buying and the deductions you lose from renting, buying often looks even better than you think. That’s another reason to consider a purchase.

Ron Margolis

August 5, 2011

Something else to consider is there is the tax benefit of owning a home. You get to deduct the interest up to 1,000,000 of your acquisition costs and the interest of up to 100,000 in home equity. WHen you run an analysis of rent versus buy figuring the tax benefits of buying and the deductions you lose from renting, buying often looks even better than you think. That’s another reason to consider a purchase.

Lincoln Williamson

December 28, 2011

I definitely think long-term owning is the winning option. Thanks Mr. Molina.

Lincoln Williamson

December 28, 2011

I definitely think long-term owning is the winning option. Thanks Mr. Molina.

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