renting: 47% of New Buyers Surprised by How Affordable Homes Are Today
- 02/12/21 08:20 AM
Headlines matter. Right now, it’s hard to read about real estate without seeing a headline that suggests homes have become unaffordable for most Americans. In reality, there’s hard evidence that shows how owning a home is more affordable than renting in most parts of the country, as record-low interest rates are keeping monthly mortgage payments about 23% lower than the typical payment of 20 years ago. Despite the facts, misleading headlines persist, and they impact how hopeful homebuyers perceive the market. In a recent survey by realtor.com, home shoppers indicated they were surprised by what they could actually afford when buying their first home. In fact, 47% … (0 comments)
renting: 3 Great Reasons to Buy a Home So You Can Get out of the "Renting Rut"
- 02/12/21 08:04 AM
Renting a home is a good option for some, but buying a home just might be the best thing for you. When you rent a home, you send money to someone else every month in exchange for knowing that you can call on your landlord when the roof leaks, an appliance stops working or your bathroom faucet breaks. There are some big advantages to buying a house that will help you get out of your renting rut and focus more on your future. Build Equity Did you know that when you rent a home, you help someone else build equity? Any changes that you … (1 comments)
renting: The Narrowing Gap Between Renting And Buying A Home In The US
- 04/17/20 01:09 PM
According to data compiled by Realtor.com in the fourth quarter of 2019, it is still more affordable overall to rent versus buy a home -- but just barely. The median monthly mortgage payment at the end of 2019 was $1,600, while the median monthly rent payment was $1,319. This is largely due to steadily-increasing rates, rising home prices, and near-record-low mortgage rates. The Realtor.com study looked at 593 counties across the country. As compared to the fourth quarter of 2018, the average monthly cost of renting a home increased 4%, up from $1,254, while the average monthly cost of homeownership actually declined … (1 comments)
renting: The Cost of Renting vs. Buying a Home [INFOGRAPHIC]
- 11/15/19 08:01 AM
The Cost of Renting vs. Buying a Home [INFOGRAPHIC] Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear. Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year. … (0 comments)
renting: Think Prices Have Skyrocketed? Look at Rents.
- 10/25/19 09:56 AM
Think Prices Have Skyrocketed? Look at Rents. Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject. In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply. “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.” Zillow, in its latest Rent … (0 comments)
renting: 4 Reasons Why Home Ownership Is Better Than Renting
- 12/27/18 07:26 AM
Are you trying to decide if you should rent or buy? There are many reasons why home ownership is better than renting. Here are just a few to consider when you're making your decision. 1. Stability For Your Family When you own your home, the life of your family will be more stable. If you have children, this is a an even more valuable benefit. Your kids will be able to settle down into the routine of school and extracurricular activities. They'll be able to make lifelong friends in the neighborhood. You and your spouse will be able to feel a strong sense … (1 comments)
renting: Why High Rents Are Worse Than a Mortgage over the Long Term
- 01/13/16 10:57 PM
If you're at the stage in life where home ownership is nearly within your reach, you're probably wondering whether you should start looking for a home or whether you should just keep renting. Renting is easier, people say, and it gives you more mobility. But over the long term, all that rent money can really add up - and it eventually reaches a point where buying a home is a better deal. So why is paying a high rent a worse option than buying a house and getting a mortgage? Here's what you need to know. Renting Doesn't Generate Equity One of the … (0 comments)
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