Homeownership Benefits | Palmdale | Lancaster


Homeownership Benefits

Is owning a home better than renting?  Owning your own home certainly has it’s benefits.  There are so many I don’t know where to start.  I can tell you from personal experience that the emotional benefits of home ownership were better than I had expected.  The pride of ownership is something I had never had when renting property.  When we own something, it is really an extension of ourselves, and we can fix it up and personalize it.  Being able to put “sweat equity” into your real estate and knowing that it will benefit you, emotionally and financially the entire time you live in the property, and when you sell it is a great feeling.  This is a feeling never realized by renters.  When I bought my home, for the first time I really had a sense of community, and that I wanted to be an active member of it.  I wanted to make my property and the surrounding neighborhood better for the greater good.  Now that I have a vested interest in Palmdale real estate, I want to make the area a better place to raise my children.  Now that I’m a home owner I’m concerned with the quality of the schools, the cleanliness of the area, local parks, and many other things that I wasn’t as concerned with before. Having a place to settle, raise a family, and really call your own is something of extreme importance.  Not everyone is blessed with the luxury of really owning their own little pice of the rock we call Earth.  Those of us lucky enough to be home owners in the Palmdale and Lancaster area certainly know the feeling of gratitude that comes along with it.

I suppose the financial aspect of home ownership would be another major benefit I should outline.  As a Realtor in Palmdale, a lot of my friends ask me “is it better to buy a home or, or to rent?  The advice I give them is always the same, and this is not just the salesman in me talking.  Financially, it makes a lot of sense to buy a home and gain equity, instead of throwing your money away on rent which is building equity for your landlord, and making them rich.  As a general rule of thumb, the value of real estate doubles roughly every ten years.  The mathematics behind the benefits of owning your own home vs. renting are complicated so I will give you a general overview.

To keep my financial example simple, let’s say that I help someone buy or sell a house in the Palmdale or Lancaster, CA area and the home is $250,000 (you have to love Palmdale and Lancaster, CA for the affordable housing here).  So… a $250,000 house, on a 30 year fixed mortgage, with closing costs of $13,462.  A down payment of $8,750.  APR 5.96% and an interest rate of 4.5% and the borrower is in the 28% tax bracket.  We will assume that for our simple financial outline that rental increase is 2% per year and that the appreciation of the home being bought is also 2%.

In the above mortgage and financial model, over the course of five years, you could expect as a renter to pay $123,000 and gain no equity of your own. As a buyer of the same property, you would expect to build equity of $59,444.  It’s a no brainer.  Of course not everyone is able to buy their own home due to inconsistent employment, high debt to income ratio, or a number of other factors which make home ownership prohibitive to many.  It is the American dream to own a home, build equity for you and your family and move up in the financial world.  Without making the right financial moves such as owning your own real estate you hold yourself back from one of the best known ways to create wealth in America.

Homes for Sale in Palmdale, CA by Real Estate Agent Wes Darby

  1. 5 beds, 4 baths
    Home size: 2,894 sq ft
    Lot size: 7,405 sqft
    Year built: 2002
    Days on market: 1
  2. 3 beds, 2 baths
    Home size: 1,220 sq ft
    Lot size: 6,969 sqft
    Year built: 1992
    Days on market: 1
  3. 3 beds, 2 baths
    Home size: 1,440 sq ft
    Lot size: 6,534 sqft
    Year built: 1954
    Days on market: 1
  4. 4 beds, 2 baths
    Home size: 1,667 sq ft
    Lot size: 6,969 sqft
    Year built: 1988
    Days on market: 1
  5. 4 beds, 3 baths
    Home size: 2,112 sq ft
    Lot size: 7,405 sqft
    Year built: 2006
    Days on market: 2
  6. 4 beds, 3 baths
    Home size: 1,802 sq ft
    Lot size: 5.96 ac
    Year built: 1999
    Days on market: 2
  7. 4 beds, 4 baths
    Home size: 2,743 sq ft
    Lot size: 6,969 sqft
    Year built: 2000
    Days on market: 2
  8. 3 beds, 2 baths
    Lot size: 3,500.00 ac
    Year built: 1982
    Days on market: 2
  9. 4 beds, 3 baths
    Home size: 1,871 sq ft
    Lot size: 11,761 sqft
    Year built: 1995
    Days on market: 2
  10. 4 beds, 3 baths
    Home size: 1,914 sq ft
    Lot size: 6,534 sqft
    Year built: 1986
    Days on market: 3
  11. 5 beds, 3 baths
    Home size: 3,126 sq ft
    Lot size: 12,196 sqft
    Year built: 2004
    Days on market: 4
  12. 6 beds, 5 baths
    Home size: 3,300 sq ft
    Lot size: 7,405 sqft
    Year built: 2004
    Days on market: 4
  13. 3 beds, 2 baths
    Home size: 1,422 sq ft
    Lot size: 6,098 sqft
    Year built: 1981
    Days on market: 4
  14. 5 beds, 4 baths
    Home size: 3,754 sq ft
    Lot size: 8,712 sqft
    Year built: 2006
    Days on market: 5
  15. 5 beds, 4 baths
    Home size: 2,511 sq ft
    Lot size: 12,632 sqft
    Year built: 2007
    Days on market: 5
  16. 4 beds, 3 baths
    Home size: 1,983 sq ft
    Lot size: 6,534 sqft
    Year built: 1992
    Days on market: 5
  17. 3 beds, 2 baths
    Home size: 1,522 sq ft
    Lot size: 21,780 sqft
    Year built: 2007
    Days on market: 5
  18. 3 beds, 4 baths
    Home size: 1,779 sq ft
    Lot size: 7,840 sqft
    Year built: 1986
    Days on market: 5
  19. 3 beds, 2 baths
    Home size: 1,494 sq ft
    Lot size: 8,276 sqft
    Year built: 1990
    Days on market: 5
  20. 3 beds, 3 baths
    Home size: 2,455 sq ft
    Lot size: 10,890 sqft
    Year built: 1990
    Days on market: 5
  21. 3 beds, 2 baths
    Home size: 1,482 sq ft
    Lot size: 4,791 sqft
    Year built: 1985
    Days on market: 6
  22. 3 beds, 2 baths
    Home size: 1,738 sq ft
    Lot size: 7,405 sqft
    Year built: 1992
    Days on market: 6
  23. 4 beds, 3 baths
    Home size: 2,676 sq ft
    Lot size: 17,859 sqft
    Year built: 1989
    Days on market: 6
  24. 3 beds, 3 baths
    Home size: 1,854 sq ft
    Lot size: 26.08 ac
    Year built: 2008
    Days on market: 6
  25. 3 beds, 2 baths
    Home size: 1,603 sq ft
    Lot size: 6,534 sqft
    Year built: 1990
    Days on market: 7
  26. 4 beds, 3 baths
    Home size: 2,179 sq ft
    Lot size: 7,405 sqft
    Year built: 1992
    Days on market: 7
  27. 4 beds, 3 baths
    Home size: 2,770 sq ft
    Lot size: 2.51 ac
    Year built: 1986
    Days on market: 7
  28. 3 beds, 2 baths
    Home size: 1,505 sq ft
    Lot size: 7,840 sqft
    Year built: 1980
    Days on market: 7
  29. 5 beds, 3 baths
    Home size: 3,437 sq ft
    Lot size: 11,325 sqft
    Year built: 2006
    Days on market: 7
  30. 3 beds, 2 baths
    Home size: 1,190 sq ft
    Lot size: 4,356 sqft
    Year built: 1983
    Days on market: 7
  31. 5 beds, 4 baths
    Home size: 3,542 sq ft
    Lot size: 5.00 ac
    Year built: 2009
    Days on market: 8
  32. 3 beds, 2 baths
    Home size: 1,620 sq ft
    Lot size: 4,791 sqft
    Year built: 1987
    Days on market: 8
  33. 3 beds, 3 baths
    Home size: 1,556 sq ft
    Lot size: 6,534 sqft
    Year built: 1987
    Days on market: 8
  34. 7 beds, 4 baths
    Home size: 2,942 sq ft
    Lot size: 6,969 sqft
    Year built: 1996
    Days on market: 8
  35. 5 beds, 3 baths
    Home size: 2,592 sq ft
    Lot size: 6,969 sqft
    Year built: 1998
    Days on market: 9
  36. 4 beds, 3 baths
    Home size: 2,212 sq ft
    Lot size: 6,969 sqft
    Year built: 1989
    Days on market: 9
  37. 5 beds, 5 baths
    Home size: 3,057 sq ft
    Lot size: 6,534 sqft
    Year built: 2007
    Days on market: 9
  38. 3 beds, 2 baths
    Home size: 1,529 sq ft
    Lot size: 6,969 sqft
    Year built: 1986
    Days on market: 9
  39. 4 beds, 6 baths
    Home size: 2,064 sq ft
    Lot size: 6,969 sqft
    Year built: 1990
    Days on market: 11
  40. 3 beds, 2 baths
    Home size: 1,131 sq ft
    Lot size: 1.26 ac
    Year built: 1984
    Days on market: 11
  41. 5 beds, 3 baths
    Home size: 2,549 sq ft
    Lot size: 10,018 sqft
    Year built: 1999
    Days on market: 11
  42. 3 beds, 2 baths
    Home size: 1,700 sq ft
    Lot size: 6,969 sqft
    Year built: 1989
    Days on market: 11
  43. 4 beds, 3 baths
    Home size: 2,000 sq ft
    Lot size: 6,969 sqft
    Year built: 1989
    Days on market: 12
  44. 4 beds, 3 baths
    Home size: 1,779 sq ft
    Lot size: 6,534 sqft
    Year built: 1987
    Days on market: 12
  45. 3 beds, 2 baths
    Home size: 1,041 sq ft
    Lot size: 6,969 sqft
    Year built: 1956
    Days on market: 12
  46. 3 beds, 2 baths
    Home size: 2,162 sq ft
    Lot size: 40,075 sqft
    Year built: 1967
    Days on market: 12
  47. 4 beds, 3 baths
    Home size: 2,510 sq ft
    Lot size: 17,424 sqft
    Year built: 2005
    Days on market: 12
  48. 4 beds, 3 baths
    Home size: 2,455 sq ft
    Lot size: 5,227 sqft
    Year built: 2005
    Days on market: 12
  49. 5 beds, 3 baths
    Home size: 2,477 sq ft
    Lot size: 7,840 sqft
    Year built: 1991
    Days on market: 12
  50. 5 beds, 3 baths
    Home size: 2,776 sq ft
    Lot size: 8,276 sqft
    Year built: 2005
    Days on market: 12

See all Real Estate in.
(all data current as of 7/26/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Residential Listings from Lancaster, CA Realtor Wes Darby

  1. 3 beds, 3 baths
    Home size: 1,419 sq ft
    Lot size: 6,098 sqft
    Year built: 1986
    Days on market: 1
  2. 3 beds, 2 baths
    Home size: 1,305 sq ft
    Lot size: 29,620 sqft
    Year built: 1987
    Days on market: 1
  3. 3 beds, 2 baths
    Home size: 1,244 sq ft
    Lot size: 7,840 sqft
    Year built: 1983
    Days on market: 1
  4. 3 beds, 2 baths
    Home size: 1,384 sq ft
    Year built: 1985
    Days on market: 1
  5. 3 beds, 2 baths
    Home size: 1,440 sq ft
    Lot size: 6,098 sqft
    Year built: 1980
    Days on market: 1
  6. 3 beds, 2 baths
    Home size: 1,179 sq ft
    Lot size: 6,969 sqft
    Year built: 1972
    Days on market: 1
  7. 4 beds, 2 baths
    Home size: 1,632 sq ft
    Lot size: 6,098 sqft
    Year built: 1953
    Days on market: 1
  8. 4 beds, 3 baths
    Home size: 2,843 sq ft
    Lot size: 6,534 sqft
    Year built: 2003
    Days on market: 1
  9. 4 beds, 2 baths
    Home size: 1,730 sq ft
    Lot size: 6,969 sqft
    Year built: 2006
    Days on market: 2
  10. 2 beds, 1 bath
    Home size: 995 sq ft
    Lot size: 8,276 sqft
    Year built: 1939
    Days on market: 2
  11. 3 beds, 2 baths
    Home size: 1,620 sq ft
    Lot size: 6,969 sqft
    Year built: 1987
    Days on market: 2
  12. 4 beds, 2 baths
    Home size: 1,810 sq ft
    Lot size: 8,276 sqft
    Year built: 2002
    Days on market: 2
  13. 3 beds, 2 baths
    Home size: 1,750 sq ft
    Lot size: 6,534 sqft
    Year built: 2005
    Days on market: 2
  14. 4 beds, 2 baths
    Home size: 1,511 sq ft
    Lot size: 6,534 sqft
    Year built: 1992
    Days on market: 2
  15. 4 beds, 6 baths
    Home size: 2,581 sq ft
    Lot size: 6,969 sqft
    Year built: 1991
    Days on market: 2
  16. 3 beds, 2 baths
    Home size: 1,710 sq ft
    Lot size: 20,037 sqft
    Year built: 2009
    Days on market: 2
  17. 4 beds, 3 baths
    Home size: 2,664 sq ft
    Lot size: 14,374 sqft
    Year built: 2007
    Days on market: 2
  18. 4 beds, 3 baths
    Home size: 2,640 sq ft
    Lot size: 9,147 sqft
    Year built: 2002
    Days on market: 2
  19. 3 beds, 2 baths
    Home size: 1,313 sq ft
    Year built: 1989
    Days on market: 2
  20. 4 beds, 4 baths
    Home size: 2,994 sq ft
    Lot size: 40,510 sqft
    Year built: 1988
    Days on market: 2
  21. 5 beds, 3 baths
    Home size: 2,178 sq ft
    Lot size: 10,890 sqft
    Year built: 1953
    Days on market: 2
  22. 4 beds, 3 baths
    Home size: 1,516 sq ft
    Lot size: 6,969 sqft
    Year built: 1994
    Days on market: 3
  23. 5 beds, 3 baths
    Home size: 2,952 sq ft
    Lot size: 14,810 sqft
    Year built: 2004
    Days on market: 3
  24. 2 beds, 3 baths
    Home size: 1,240 sq ft
    Lot size: 1,306 sqft
    Year built: 1982
    Days on market: 3
  25. 3 beds, 2 baths
    Home size: 1,630 sq ft
    Lot size: 19.97 ac
    Year built: 1963
    Days on market: 4
  26. 2 beds, 2 baths
    Home size: 1,746 sq ft
    Year built: 1983
    Days on market: 4
  27. 3 beds, 2 baths
    Home size: 896 sq ft
    Lot size: 4,791 sqft
    Year built: 1987
    Days on market: 4
  28. 3 beds, 2 baths
    Home size: 1,853 sq ft
    Lot size: 6,098 sqft
    Year built: 1991
    Days on market: 4
  29. 5 beds, 4 baths
    Home size: 3,184 sq ft
    Lot size: 7,840 sqft
    Year built: 2015
    Days on market: 4
  30. 13 beds, 8 baths
    Home size: 4,062 sq ft
    Lot size: 7,405 sqft
    Year built: 1915
    Days on market: 4
  31. 2 beds, 2 baths
    Home size: 1,093 sq ft
    Lot size: 6,969 sqft
    Year built: 1955
    Days on market: 5
  32. 3 beds, 2 baths
    Home size: 1,611 sq ft
    Lot size: 20,908 sqft
    Year built: 1948
    Days on market: 5
  33. 3 beds, 2 baths
    Home size: 1,148 sq ft
    Lot size: 10,890 sqft
    Year built: 1985
    Days on market: 5
  34. 2 beds, 1 bath
    Home size: 820 sq ft
    Lot size: 20,473 sqft
    Year built: 1949
    Days on market: 5
  35. 3 beds, 3 baths
    Home size: 2,139 sq ft
    Lot size: 20,908 sqft
    Year built: 1954
    Days on market: 5
  36. 3 beds, 2 baths
    Home size: 1,362 sq ft
    Lot size: 5,662 sqft
    Year built: 1990
    Days on market: 5
  37. $329,000 : W 32nd, Lancaster
    5 beds, 4 baths
    Home size: 3,512 sq ft
    Lot size: 6,534 sqft
    Year built: 2005
    Days on market: 5
  38. 4 beds, 2 baths
    Home size: 1,178 sq ft
    Lot size: 6,534 sqft
    Year built: 1972
    Days on market: 5
  39. 4 beds, 3 baths
    Home size: 2,951 sq ft
    Lot size: 8,712 sqft
    Year built: 2005
    Days on market: 5
  40. 3 beds, 2 baths
    Home size: 1,139 sq ft
    Lot size: 29,620 sqft
    Year built: 1986
    Days on market: 5
  41. 3 beds, 2 baths
    Home size: 1,436 sq ft
    Lot size: 8,712 sqft
    Year built: 1982
    Days on market: 5
  42. 2 beds, 1 bath
    Home size: 1,086 sq ft
    Lot size: 8,712 sqft
    Year built: 1919
    Days on market: 5
  43. 3 beds, 2 baths
    Home size: 2,084 sq ft
    Lot size: 16,988 sqft
    Year built: 1977
    Days on market: 5
  44. 4 beds, 3 baths
    Home size: 2,472 sq ft
    Lot size: 8,712 sqft
    Year built: 1998
    Days on market: 6
  45. 4 beds, 2 baths
    Home size: 2,304 sq ft
    Lot size: 2.50 ac
    Year built: 2005
    Days on market: 6
  46. 3 beds, 2 baths
    Home size: 1,683 sq ft
    Lot size: 5,662 sqft
    Year built: 1995
    Days on market: 6
  47. 3 beds, 2 baths
    Home size: 1,227 sq ft
    Lot size: 8,276 sqft
    Year built: 1991
    Days on market: 6
  48. 2 beds, 4 baths
    Home size: 1,055 sq ft
    Lot size: 8,276 sqft
    Year built: 1989
    Days on market: 6
  49. 4 beds, 5 baths
    Home size: 5,590 sq ft
    Lot size: 26,571 sqft
    Year built: 2011
    Days on market: 6
  50. 4 beds, 3 baths
    Home size: 2,010 sq ft
    Lot size: 6,534 sqft
    Year built: 1991
    Days on market: 6

See all Real Estate in.
(all data current as of 7/26/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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