RENT VERSUS BUY CALCULATOR for Fairfield County, Ct.

Reblogger David Popoff
Real Estate Broker/Owner with DMK Real Estate Ct RE Broker 0789963

Renting vs. Buying in Fairfield County, Connecticut.

A question often asked by people living and moving to Fairfield County, Connecticut as well as in the rest of the nation. Here is a great tool from Trulia that helps you calculate the cost of renting versus buying. Here in lower Fairfield County we are seeing a lot of activity in new high end rental complexes and so I did a quick check to see if it is better to rent at $2600 vs buying at $500,000. Over a 5 year period better to buy but over a 3 year period better to rent.

One note, the calculator does take into account property taxes and insurance under advance settings.

To read more on high end rentals in lower Fairfield County, Ct click here.

 

To find rentals in Fairfield County, Ct click here.

 

Please leave comments on original post below.

 

Original content by Erin Bates FA100050874
Via Erin Bates, Your Colorado Home Source (Aspen Lane Real Estate):

I am sure that most of us have cool widgets for our website that let someone calculate mortgage payments, amortizations, and maybe even home values, but, soon we may be able to install a
Rent Versus Buy calculator.

 

Trulia, home to some of the coolest tools on the web, recently released their sophisticated calculator that takes into account dozens of assumptions to truly determine which is right for your pocket book – Renting or Buying. The Trulia calculator takes into account the overall cost of renting versus buying including such fields as monthly rent, rental insurance, security deposits, purchase price of a home, down payment, annual tax bracket, net present value, annual renovations planned, how long you stay in a home, local market stats, and more.

RENT VERSUS BUY CALCULATOR 

It is estimated that across America, it is, on average, 35% cheaper to buy a home than it is to rent a home. Cities like Detroit MI, Cleaveland OH, Kansas City KS, Dayton OH, and West Palm Beach FL, topped the list of cheapest places to buy versus rent showing an average savings of over 50%. At the bottom of the list, San Jose, San Francisco, San Diego, Orange County, Los Angeles, Ventura County, Oakland, Sacramento, New York, and Hawaii – all with under 20% savings to be had by buying, 4% in San Jose.

 RENT VERSUS BUY CALCULATOR

 

While choosing when to buy a home involves more than just number calculations, the Trulia studies and rent versus buy calculator could be a very helpful tool! Hopefully soon this tool will be a widget we can have on our websites and share with the masses! 

 

ASPEN LANE REAL ESTATE

Erin Bates

Aspen Lane Real Estate

Marketing and Business Development

“A thought is a Cosmic Order waiting to happen” – Stephen Richards

GreenTourmalineConsulting@Gmail.com 

 

 

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Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Connecticut Fairfield County Stamford
Groups:
Realtors®
New England Professionals
Real Estate Technology
Connecticut Professionals
Investment Property (USA)
Tags:
connecticut rental
property mgmt ct

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Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

David thanks for re-blogging Erin's blog and bring more attention to this really nice tool.

Nov 22, 2013 02:33 AM #1
Ambassador
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Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Palm Harbor, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

When your mortgage payment with taxes and insurance is LESS than renting, there can be no doubt that buying is the way to go!!!

Nov 22, 2013 03:50 AM #2
Rainmaker
751,367
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

So true Barbara Jo, but also buyers need to take into consideration closing costs, repairs and how long they are planning to stay. Here in lower Fairfield County, Ct if you are planning to stay less than 3 years then renting might be better.

 

Nov 22, 2013 03:56 AM #3
Rainmaker
2,037,529
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Time and time again, when doing a preapproval especially for first time home buyers, renting verses buying is a common conversation. So often it is less expensive to buy.

Make it a great weekend!

Nov 22, 2013 07:04 PM #4
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi David.  35% cheaper to own than rent.  Very impressive.

Nov 22, 2013 07:54 PM #5
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Kristin Hamilton CA Realtor
Keller Williams Realty - Redlands, CA
(909) 557-6966, CDPE, SFR, CHS-Redlands/Loma Linda

Hi David,

Cool little calculator trick but more important it is the American dream to be able to buy a house and even to pay taxes and get a write off for the mortgage interest. Thanks for posting this info and hope your Thanksgiving was grand.

Happy Thanksgiving

Nov 28, 2013 11:27 AM #6
Rainmaker
1,046,965
Michelle Cooks
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

Happy T-day David just wanted to check out your post and hope everyone had a Happy Thanksgiving. 

Nov 28, 2013 12:30 PM #7
Rainmaker
3,836,381
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is a good tip for prospective home buyers. In many military communities when the family expects a transfer within two years, it is better to rent than purchase.

Dec 09, 2013 12:12 AM #8
Rainmaker
3,836,381
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is a good tip for prospective home buyers. In many military communities when the family expects a transfer within two years, it is better to rent than purchase.

Dec 09, 2013 12:12 AM #9
Rainmaker
751,367
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

It is actually a very good tool, make sure you set the advance settings to your area.

Dec 09, 2013 12:35 AM #10
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David Popoff

Realtor®,SRS, Green ~ Fairfield County, Ct
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