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. 4 beds, 2 baths
    Home size: 1,682 sq ft
    Lot size: 7,840 sqft
    Year built: 1993
    Days on market: 1
  2. 5 beds, 2 baths
    Home size: 1,807 sq ft
    Lot size: 6,969 sqft
    Year built: 1995
    Days on market: 1
  3. 3 beds, 2 baths
    Home size: 1,141 sq ft
    Lot size: 8,276 sqft
    Year built: 1957
    Days on market: 1
  4. 4 beds, 3 baths
    Home size: 2,678 sq ft
    Lot size: 7,405 sqft
    Year built: 2009
    Days on market: 1
  5. 3 beds, 2 baths
    Home size: 1,418 sq ft
    Lot size: 2.61 ac
    Year built: 1988
    Days on market: 1
  6. 3 beds, 2 baths
    Home size: 1,402 sq ft
    Lot size: 21,780 sqft
    Year built: 1992
    Days on market: 2
  7. 2 beds, 2 baths
    Home size: 2,184 sq ft
    Lot size: 17.50 ac
    Year built: 2005
    Days on market: 2
  8. 4 beds, 2 baths
    Home size: 1,248 sq ft
    Lot size: 21,780 sqft
    Year built: 1978
    Days on market: 2
  9. 3 beds, 3 baths
    Home size: 1,534 sq ft
    Lot size: 7,405 sqft
    Year built: 1985
    Days on market: 2
  10. 3 beds, 2 baths
    Home size: 1,277 sq ft
    Lot size: 6,534 sqft
    Year built: 1987
    Days on market: 2
  11. 5 beds, 4 baths
    Home size: 2,820 sq ft
    Lot size: 2.66 ac
    Year built: 1969
    Days on market: 2
  12. 3 beds, 2 baths
    Home size: 1,919 sq ft
    Lot size: 17,859 sqft
    Year built: 2009
    Days on market: 2
  13. 6 beds, 3 baths
    Home size: 2,654 sq ft
    Lot size: 6,534 sqft
    Year built: 1999
    Days on market: 3
  14. 3 beds, 2 baths
    Home size: 1,600 sq ft
    Lot size: 7,840 sqft
    Year built: 1991
    Days on market: 3
  15. 3 beds, 2 baths
    Home size: 1,189 sq ft
    Lot size: 5,662 sqft
    Year built: 1995
    Days on market: 4
  16. 4 beds, 3 baths
    Home size: 2,402 sq ft
    Lot size: 12,196 sqft
    Year built: 1989
    Days on market: 4
  17. 3 beds, 2 baths
    Home size: 2,014 sq ft
    Lot size: 2.66 ac
    Year built: 1959
    Days on market: 4
  18. 3 beds, 2 baths
    Home size: 1,354 sq ft
    Lot size: 9,147 sqft
    Year built: 1991
    Days on market: 4
  19. 5 beds, 3 baths
    Home size: 3,219 sq ft
    Lot size: 6,098 sqft
    Year built: 2004
    Days on market: 4
  20. 5 beds, 3 baths
    Home size: 3,901 sq ft
    Lot size: 6,969 sqft
    Year built: 2006
    Days on market: 4
  21. 3 beds, 2 baths
    Home size: 1,161 sq ft
    Lot size: 7,405 sqft
    Year built: 1957
    Days on market: 4
  22. 5 beds, 4 baths
    Home size: 3,283 sq ft
    Lot size: 7,405 sqft
    Year built: 2007
    Days on market: 4
  23. 4 beds, 2 baths
    Home size: 1,923 sq ft
    Lot size: 11,761 sqft
    Year built: 2005
    Days on market: 4
  24. 3 beds, 2 baths
    Home size: 1,410 sq ft
    Year built: 1989
    Days on market: 6
  25. 3 beds, 1 bath
    Home size: 1,064 sq ft
    Lot size: 7,405 sqft
    Year built: 1955
    Days on market: 6
  26. 4 beds, 3 baths
    Home size: 1,914 sq ft
    Lot size: 6,534 sqft
    Year built: 1986
    Days on market: 6
  27. 5 beds, 4 baths
    Home size: 3,347 sq ft
    Lot size: 13,068 sqft
    Year built: 2007
    Days on market: 7
  28. 4 beds, 2 baths
    Home size: 1,825 sq ft
    Lot size: 2.49 ac
    Year built: 1978
    Days on market: 7
  29. 3 beds, 3 baths
    Home size: 1,936 sq ft
    Lot size: 31,363 sqft
    Year built: 1987
    Days on market: 7
  30. 3 beds, 2 baths
    Home size: 1,524 sq ft
    Lot size: 6,534 sqft
    Year built: 1992
    Days on market: 7
  31. 3 beds, 3 baths
    Home size: 1,918 sq ft
    Lot size: 4,356 sqft
    Year built: 2006
    Days on market: 8
  32. 4 beds, 3 baths
    Home size: 1,750 sq ft
    Lot size: 9,147 sqft
    Year built: 1994
    Days on market: 8
  33. 3 beds, 2 baths
    Home size: 1,675 sq ft
    Lot size: 8,276 sqft
    Year built: 1991
    Days on market: 8
  34. 4 beds, 3 baths
    Home size: 2,302 sq ft
    Lot size: 7,840 sqft
    Year built: 2007
    Days on market: 9
  35. 2 beds, 1 bath
    Home size: 800 sq ft
    Lot size: 6,969 sqft
    Year built: 1952
    Days on market: 9
  36. 4 beds, 5 baths
    Home size: 3,181 sq ft
    Lot size: 1.26 ac
    Year built: 2005
    Days on market: 10
  37. 3 beds, 3 baths
    Home size: 2,052 sq ft
    Lot size: 1.37 ac
    Year built: 1979
    Days on market: 10
  38. 4 beds, 3 baths
    Home size: 2,465 sq ft
    Lot size: 1.28 ac
    Year built: 1988
    Days on market: 10
  39. 7 beds, 3 baths
    Home size: 3,130 sq ft
    Lot size: 8,276 sqft
    Year built: 2001
    Days on market: 10
  40. 4 beds, 2 baths
    Home size: 1,248 sq ft
    Lot size: 30,927 sqft
    Year built: 1977
    Days on market: 11
  41. 4 beds, 3 baths
    Home size: 2,678 sq ft
    Lot size: 9,583 sqft
    Year built: 1991
    Days on market: 11
  42. 4 beds, 3 baths
    Home size: 3,592 sq ft
    Lot size: 12,632 sqft
    Year built: 2004
    Days on market: 11
  43. 4 beds, 3 baths
    Home size: 2,213 sq ft
    Lot size: 6,969 sqft
    Year built: 1990
    Days on market: 11
  44. 4 beds, 3 baths
    Home size: 1,924 sq ft
    Lot size: 7,405 sqft
    Year built: 1992
    Days on market: 11
  45. 3 beds, 1 bath
    Home size: 1,042 sq ft
    Lot size: 6,098 sqft
    Year built: 1954
    Days on market: 12
  46. 3 beds, 2 baths
    Home size: 1,108 sq ft
    Lot size: 12,632 sqft
    Year built: 1987
    Days on market: 13
  47. 3 beds, 3 baths
    Home size: 2,810 sq ft
    Lot size: 9,147 sqft
    Year built: 1981
    Days on market: 14
  48. 5 beds, 3 baths
    Home size: 2,021 sq ft
    Lot size: 6,969 sqft
    Year built: 1988
    Days on market: 14
  49. 3 beds, 2 baths
    Home size: 1,681 sq ft
    Lot size: 6,969 sqft
    Year built: 1989
    Days on market: 14
  50. 3 beds, 3 baths
    Home size: 2,370 sq ft
    Lot size: 7,405 sqft
    Year built: 2015
    Days on market: 15

See all Real Estate in.
(all data current as of 9/21/2017)

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: 1,336 sq ft
    Lot size: 3.41 ac
    Year built: 1991
    Days on market: 1
  2. 4 beds, 3 baths
    Home size: 2,213 sq ft
    Lot size: 6,534 sqft
    Year built: 1990
    Days on market: 1
  3. 4 beds, 2 baths
    Home size: 1,178 sq ft
    Lot size: 6,534 sqft
    Year built: 1971
    Days on market: 1
  4. 4 beds, 2 baths
    Home size: 2,039 sq ft
    Lot size: 2.56 ac
    Year built: 2005
    Days on market: 1
  5. 4 beds, 2 baths
    Home size: 2,222 sq ft
    Lot size: 9,583 sqft
    Year built: 1987
    Days on market: 1
  6. 4 beds, 3 baths
    Home size: 2,370 sq ft
    Lot size: 6,534 sqft
    Year built: 1994
    Days on market: 1
  7. 4 beds, 4 baths
    Home size: 3,527 sq ft
    Lot size: 20,037 sqft
    Year built: 2006
    Days on market: 2
  8. 3 beds, 2 baths
    Home size: 1,700 sq ft
    Lot size: 6,098 sqft
    Year built: 1956
    Days on market: 2
  9. 4 beds, 3 baths
    Home size: 2,568 sq ft
    Lot size: 7,840 sqft
    Year built: 2006
    Days on market: 2
  10. 4 beds, 3 baths
    Home size: 2,734 sq ft
    Lot size: 14,374 sqft
    Year built: 2004
    Days on market: 2
  11. 5 beds, 3 baths
    Home size: 2,844 sq ft
    Lot size: 7,840 sqft
    Year built: 1994
    Days on market: 2
  12. 3 beds, 2 baths
    Home size: 1,380 sq ft
    Lot size: 6,969 sqft
    Year built: 1992
    Days on market: 2
  13. 3 beds, 2 baths
    Home size: 1,541 sq ft
    Lot size: 6,534 sqft
    Year built: 2007
    Days on market: 2
  14. 4 beds, 3 baths
    Home size: 1,829 sq ft
    Lot size: 6,969 sqft
    Year built: 1988
    Days on market: 3
  15. 4 beds, 2 baths
    Home size: 1,992 sq ft
    Lot size: 7,840 sqft
    Year built: 1989
    Days on market: 3
  16. 4 beds, 3 baths
    Home size: 1,685 sq ft
    Lot size: 6,098 sqft
    Year built: 1993
    Days on market: 3
  17. 3 beds, 2 baths
    Home size: 1,516 sq ft
    Lot size: 1.17 ac
    Year built: 1976
    Days on market: 3
  18. 5 beds, 3 baths
    Home size: 3,023 sq ft
    Lot size: 9,583 sqft
    Year built: 2005
    Days on market: 3
  19. 3 beds, 2 baths
    Home size: 1,441 sq ft
    Lot size: 7,405 sqft
    Year built: 2005
    Days on market: 3
  20. 5 beds, 4 baths
    Home size: 4,415 sq ft
    Lot size: 9,583 sqft
    Year built: 2007
    Days on market: 4
  21. 3 beds, 3 baths
    Home size: 1,541 sq ft
    Lot size: 7,840 sqft
    Year built: 1988
    Days on market: 4
  22. 4 beds, 2 baths
    Home size: 2,010 sq ft
    Lot size: 6,534 sqft
    Year built: 1989
    Days on market: 4
  23. 3 beds, 2 baths
    Home size: 1,107 sq ft
    Lot size: 6,534 sqft
    Year built: 1957
    Days on market: 4
  24. 3 beds, 2 baths
    Home size: 1,268 sq ft
    Lot size: 6,969 sqft
    Year built: 1956
    Days on market: 4
  25. 2 beds, 2 baths
    Home size: 1,417 sq ft
    Lot size: 7,840 sqft
    Year built: 1985
    Days on market: 4
  26. 4 beds, 2 baths
    Home size: 2,038 sq ft
    Lot size: 7,840 sqft
    Year built: 2005
    Days on market: 4
  27. 3 beds, 1 bath
    Home size: 1,102 sq ft
    Lot size: 6,098 sqft
    Year built: 1952
    Days on market: 4
  28. 5 beds, 4 baths
    Home size: 2,892 sq ft
    Lot size: 7,405 sqft
    Year built: 2006
    Days on market: 4
  29. 5 beds, 3 baths
    Home size: 2,205 sq ft
    Lot size: 5,662 sqft
    Year built: 1990
    Days on market: 6
  30. 1 bed, 1 bath
    Home size: 706 sq ft
    Lot size: 3.17 ac
    Year built: 1983
    Days on market: 6
  31. 3 beds, 2 baths
    Home size: 1,630 sq ft
    Lot size: 8,712 sqft
    Year built: 1955
    Days on market: 6
  32. 4 beds, 3 baths
    Home size: 2,447 sq ft
    Lot size: 11,761 sqft
    Year built: 2006
    Days on market: 6
  33. 3 beds, 2 baths
    Home size: 1,589 sq ft
    Lot size: 6,534 sqft
    Year built: 1955
    Days on market: 7
  34. 4 beds, 3 baths
    Home size: 1,780 sq ft
    Lot size: 6,969 sqft
    Year built: 1990
    Days on market: 7
  35. 4 beds, 2 baths
    Home size: 1,204 sq ft
    Lot size: 6,534 sqft
    Year built: 1956
    Days on market: 7
  36. 3 beds, 2 baths
    Home size: 1,312 sq ft
    Lot size: 6,969 sqft
    Year built: 1987
    Days on market: 7
  37. 4 beds, 3 baths
    Home size: 2,640 sq ft
    Lot size: 5,662 sqft
    Year built: 2001
    Days on market: 7
  38. 3 beds, 2 baths
    Home size: 2,215 sq ft
    Year built: 1970
    Days on market: 7
  39. 2 beds, 2 baths
    Home size: 1,150 sq ft
    Lot size: 5,662 sqft
    Year built: 1989
    Days on market: 7
  40. 4 beds, 2 baths
    Home size: 1,940 sq ft
    Lot size: 1.10 ac
    Year built: 2004
    Days on market: 7
  41. 2 beds, 2 baths
    Year built: 1973
    Days on market: 7
  42. 4 beds, 2 baths
    Home size: 1,755 sq ft
    Lot size: 7,840 sqft
    Year built: 1997
    Days on market: 7
  43. 3 beds, 3 baths
    Home size: 2,800 sq ft
    Lot size: 6,969 sqft
    Year built: 2006
    Days on market: 7
  44. 4 beds, 2 baths
    Home size: 2,152 sq ft
    Lot size: 6,969 sqft
    Year built: 2006
    Days on market: 7
  45. 3 beds, 2 baths
    Home size: 1,176 sq ft
    Year built: 2004
    Days on market: 7
  46. 4 beds, 2 baths
    Home size: 1,708 sq ft
    Lot size: 6,534 sqft
    Year built: 2006
    Days on market: 7
  47. 2 beds, 2 baths
    Home size: 1,000 sq ft
    Lot size: 1,306 sqft
    Year built: 1974
    Days on market: 7
  48. 3 beds, 2 baths
    Home size: 1,044 sq ft
    Lot size: 7,405 sqft
    Year built: 1957
    Days on market: 7
  49. 3 beds, 3 baths
    Home size: 1,563 sq ft
    Lot size: 6,969 sqft
    Year built: 1989
    Days on market: 7
  50. 9 beds, 4 baths
    Home size: 2,912 sq ft
    Lot size: 30,056 sqft
    Year built: 1957
    Days on market: 7

See all Real Estate in.
(all data current as of 9/21/2017)

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

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