Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-03
+. HOMECOMING BEST
FOR MOST FAMILIES
Writer Says investments in
Property Lead to Savings
[. Not Otherwise Possible.

Discount, If you like, sentimental rea-
sons for making a payment on rose
covered bungalow. there remain many
practical considerations that make
home ownership advisable for the aver
age family of small means says Herbert
u. Nelson, executive secretary of the
National Association of Real Estate
Boards.
Some of the joys of home ownership
can be attained in rented quarters. but
the one big reason why people should
own their domiciles is because it makes
them save money they would never ac-
cumulate otherwise, he contends.
Two Good Reasons Assigned.
"There are two good reasons, devoid
OF any glamor, why home ownership is
a good thing for small salaried folks.
The first is, that in acquiring home,
such people are forced to save funds
that would not be saved in any other
way. In other words, through and by
means Of their home, these people build
up capital and credit standing that
nothing but the goal of home ownership
could bring about. Nothing but the
they have so fondly selected would
make such people continue denials and
economies necessary to achieve this
end; for once started to save for a
home the average family will make
every sacrifice to keep up the payments.
Nothing short of actual disaster will
cause them to give up" Mr.. Nelson de-
olares.
"The second practical reason why
home ownership is advisable for the
family of small income Is that with
very little additional expenditure per
month the average family can have a
much better home by owning than by
renting. In the beginning the home
q family purchases may not be better
than the home they might have rented,
but the owned domicile constantly in
spires its occupants to improve it.
THE home owners budget does not
contain the items for vacancy allow
ances and landlords profit that are fig
ured in the rent BILL" he says. The
total Of these items, in many cases, al
lows sufficient funds with which to pur-
chase home. For example on prop
erty worth $500 (house and lots the
landlords profit would be computed at
probably not less than per cent of this
amount; certainly he should receive this
much return on his money for the time
Eight per cent of $500 is $500 year
This is an amount the renter pays for
occupying his rented quarters in addi-
ton to all the other charges for keeping
up the house listed above. The land
lord of such a home probably will add
another 500 in making up his rent f1g-
IRE to protect himself in case this prop
erty stands vacant a month or so dur
ing the year. This makes $700 the
renter pays aside from the carrying
charges for the house. That $700 would
be sufficient in many localities to pur-
chase home on installment payments.
Pays Charges as Renter.
"Of course, the home buyer will also
have the charges for taxes, repairs and
decorations, insurance, etc, but he pays
these charges, too, as renter. .
!. Moreover, it has been demonstrated
that charges for repairs and decorations
in an owned home are lower, by con-
siderable amount, than in rented struc-
lures. In other words. landlord, max
ing up a rent bill as described above,
necessarily will have to place a higher
figure opposite the item for repairs and
decorations than the home owner. This
Is because the renter is harder on a
home than an owner. Moreover, the
changing of tenants is wearing on
rented structures"