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Update on buying verses renting in today's market for consumers

By Valerie Osterhoudt

Real Estate Agent with Johnson Real Estate, Inc. RES.0761759

March 21, 2011 05:14 AM

Update on buying verses renting in today's market for consumers

I've been asked this question over th last few months by many potential buyers. Should I continue to rent, or should I buy in this market? I came across this information and it was backup by Barbara Dennison (also a member of ActiveRain) and a senior loan officer for Mortgage Access Corp.

Did you know that Deutsche Bank released a study showing that renting a home costs US households more than paying a mortgage for the first time in the last two decades?

DO YOU WANT TO SAVE MONEY.. CONTINUE READING.

The rent-buy ratio, or rent as a percentage of after-tax mortgage payments is based on figures that Deutsche Bank complied from NAR and the REIS information services. Rent amounted to 100.2% of home loan costs in the last year's fourth quarter-the highest level since calculations began in 1991. Studies also show that the average rent is due to increase by 10% in the next 12 months. Basically-renting a home is more expensive than owning a home. The average rent payment is on the rise with no benefit to the tenant.

In February 2011, 3 out of 4 loans registered for FHA financing were first time buyers. Do you know enough about government loans to get this market share? Both Barbara and I can help you.

FOR ACCURATE INFORMATION ON REAL ESTATE... CONTACT YOUR LOCAL AGENT

Info about the author:

Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, which includes Cromwell, Rocky Hill, Berlin, Middletown, Wethersfield, Newington, as well as all other surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.

For real estate.. all you need to know, is VALERIEO

If you're thinking about buying a home in Cromwell CT area, there are plenty of great buys in today's market. There is no better time than now to take advantage of these homes while interest rates remain at an all time low. For more information on Cromwell CT real estate's homes and/or condos please visit Johnson Real Estate to access the newest listings.

Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.883.8889 cell - ValerieOhomes4u@gmail.com

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Steve Loynd

Alpine Lakes Real Estate Inc., - Lincoln, NH

800-926-5653, White Mountains NH

Valerie...I know home ownership can be similar in cost to renting, but there is no better pride than home ownership. I have yet to meet a tenant who wishes to keep the grass cut, or do equity building projects on a property that they don't own.

Mar 21, 2011 05:35 AM

Valerie Osterhoudt

Johnson Real Estate, Inc. - Cromwell, CT

ABR, Cromwell, CT Real Estate ~ 860.883.8889

Steve... And to add to that, how about the tenant that loves to throw money out the window for rent and not be able adjust their taxes for renting verses owning.

Mar 21, 2011 05:43 AM

Joshua Zargari

MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY

MJ Decorators Workshop

From my own experience, I would say that buying is better in the long run.

Mar 21, 2011 01:17 PM

Joshua.. Buying IS the way to go... bar none.... Renting you just throw money out the window... buying you throw money out the window too... but some of it makes it into your pocket.

Mar 22, 2011 01:35 AM

Update on buying verses renting in today's market for consumers

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Valerie Osterhoudt

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