rent vs buy: Renting VS Buying - A Cost Analysis - 11/17/19 06:38 AM
  
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.  by Keeping Current Matters

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rent vs buy: Rents on the rise - 01/10/15 10:31 PM

 
Buying now is twice as affordable as renting, but that doesn’t mean it’s any easier for young buyers to get into the market
As it’s gotten more affordable to own a home, the exact opposite has taken hold for renters.
American homebuyers making the national median income and purchasing the typical U.S. home spend just more than 15 percent of their income on their monthly housing payment, down from a historical norm of around 22 percent during the pre-bubble years between 1985 and 1999, according to a Zillow analysis of third-quarter 2014 income and home-value data.
 

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rent vs buy: Buying a Home Remains 38% Less Expensive than Renting! - 11/07/14 12:18 AM

In Trulia’s latest Rent vs. Buy Report, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States.
The updated numbers actually show that the range is from an average of 17% in Honolulu, all the way to 63% in Detroit, and 38% Nationwide! This is up from an average of only 5% cheaper in Honolulu in April.
The other interesting findings in the report include:
Rents have continued to increase nationally even as home price increases are starting to slow. Current low mortgage rates have kept homeownership … (1 comments)

rent vs buy: Buying beats renting in 98 of 100 metros - 03/26/12 09:14 PM
 
Thanks to nationwide price declines and rising rents, buying a home is now cheaper than renting one in 98 of the nation's 100 major metropolitan areas, according to a rent vs. buy index from real estate search and marketing site Trulia.
 
In the two remaining metros, San Francisco and Honolulu, renting often beat buying, but buying could be a better deal for those who plan to stay in their home for at least five years and take advantage of the mortgage interest tax deduction, Trulia said.
 
The rent vs. buy index is based on a price-to-rent ratio of … (2 comments)

rent vs buy: Stronger Lure for Prospective Home Buyers - 11/29/11 11:59 PM
Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities.
Where Housing Is Headed View Interactive
The Wall Street Journal's third-quarter survey of housing-market conditions in 28 of the nation's largest metropolitan areas found that home values declined in all but five markets compared with the second quarter, according to data from Zillow Inc. Meanwhile, rent levels have risen briskly across the country and mortgage rates, hovering around 4%, are … (0 comments)

rent vs buy: Rental Costs Are About to Takeoff Reasons NOW Is a Great Time to Buy - 05/06/11 12:20 AM
We are often asked whether it is better to rent or buy in the current housing market. The answer to that question is: "It all depends." There are certain situations where renting short term probably makes sense. It may make sense if you are retiring to a different region of the country and are not yet sure where you want to set down roots for the next 25 years. It may make sense if you have a one-year employment contract that will probably require a move to another place upon termination. However, in most other cases, renting right now makes little … (4 comments)

rent vs buy: 4 Signals It Might be Time to Buy (vs. Rent) Your Home - 04/28/11 08:42 AM
To rent or to buy:  what used to be a given – that you would buy a home as soon as you could afford to – has become an agonizing conundrum for many a would-be homebuyer, in the face of the housing market’s big bust and super-slow recovery.  Low prices seem to create a wide-open window of opportunity, but they also create the concern that prices will keep falling after closing.  And that Catch-22 has hundreds of thousands of buyers-to-be stuck on the fence.
Fortunately, there are handful of life, mortgage and local market signals which indicate that the time *might* … (0 comments)

 
Christopher Pataki, Hockessin Delaware Real Estate (RE/MAX Associates) Rainmaker large

Christopher Pataki

Hockessin Delaware Real Estate

Hockessin, DE

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RE/MAX Associates

Address: 56 West Main Street, Suite 101, Christiana, DE, 19702

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Office: 302-738-2300

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