Is It Cheaper To Buy A Home In Vancouver Washington Than It Is To Rent One?
There have been very few times in the history of the United States that it has been cheaper to buy a home than it is to rent one. One of those times is now.
Homes for sale Vancouver Washington have reached prices that are comparable to those of 2002 and interest rates are at an all time low. In October 2011 rates dipped below 4% and right now, in November, they are hovering at 4.1%.
What does that mean in real life? It means that you can buy the 1100+ sq ft condo shown below for $60,000 with a down payment of approximately $2100 and have a total monthly payment of less than $750* per month! (mortgage approx. $279, MI approx. $64, HOA $191, Taxes $200+/-) To rent a similar condo in the area would cost about $850 per month and you have to deal with a pain in the BU++ landlord!
Did you know that there are also single family homes in the area that can be bought for a down payment of $3500 and payments of less than $1000* per month? If you were to rent these homes, many of them would rent for $1200 or more per month.
Monthly payments aren't the only advantage to owning your own home. Watch this video for more benefits of home ownership!
We love helping first time home buyer's get into their new homes. Call us and let us show you how.
* I am not a lender! Please talk to a qualified lender to get exact numbers. You will be amazed!
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