Prelude - "To Rent or to Own, is There a Question?"

Overheard last week in the office next to mine: "They are good neighbors. Everyone looks out for everyone else." The voice was Gary Raze, a broker at RE/MAX Integrity describing a neighborhood to another real estate broker. I popped up out of my chair to ask him if I could quote him on that and explained the blog article on renting versus buying I was working on.

Gary pointed out that "in a neighborhood where there are just a few renters, they may find people do not approach as they do with other home owners. Why should they? Renters move away. No one wants to get close to someone and then have them leave." That goal of owning a home still matters. To watch a video on the importance of home ownership click http://link.brightcove.com/services/player/bcpid1785312249?bclid=1740033302&bctid=664750407001.

Here are a few other points to consider before we turn to local experts in an upcoming post:

• Owning a home is an investment, an accomplishment and something to pass down to future generations
• Having a home means traditions and creative expression rather than landlord limitations
• Homebuyers buy into a neighborhood, a community, including local schools. This creates stability.
• According to the National Association of Realtors, "In the past 12 years, the net worth of the typical home owner has ranged between 31 and 46 times that of the net worth of the typical renter."
• Tax benefits
• Appreciation of investment is a historical fact. Investors are buying up 1 out of 5 homes in Oregon; apparently they agree

Wondering what is in your best interests given the variables in your life? Read the local expert comments in my upcoming blog post, "To Rent or To Own, is There a Question?" and check out this Bankrate.com calculator tool designed to help consumers break it down for themselves http://www.bankrate.com/calculators/mortgages/rent-or-buy-home.aspx.