Why is it cheaper to own a house than to rent one?

By
Real Estate Agent with RE/MAX in the Village, Realtors

Q: Why is it cheaper to own a house than to rent one?

A: In many areas right now it is cheaper to own than it is to rent. Property values and interest rates have fallen quite a bit over the last several years, and homeownership is the most affordable it has been in decades. Rents are going up because many people have lost their homes due to foreclosure, and many other would-be buyers are delaying their purchase due to the economy, job market, student & consumer debt, etc, creating more demand for rental properties. In recent months, however, the trend is beginning to change as more buyers enter the market - we're seeing prices starting to rise in many neighborhoods around Chicagoland.

I'm happy to meet you for a quick one-on-one, no obligation chat about the buying process or recommend some mortgage lenders if you'd like to explore the loan & down payment options as well as down payment/closing cost assistance that may be available to you.

START SEARCHING FOR YOUR DREAM HOME HERE: www.OPRFhomesforsale.com

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Posted by

Laurie Christofano, Realtor

ABOUT THE AUTHOR: Laurie Christofano has been a real estate broker since falling into the field in 2007 upon deciding to leave medical school. Passionate about local architecture and determined to make a living "helping people" (as she set out to do since deciding to become a doctor; albeit she's now helping with a different but also important aspect of people's lives), she's worked with buyers, sellers & renters all over Chicago's city & suburbs. Proud member of The Pych Team @ RE/MAX In The Village, Your #1 Pick! Learn more: http://traffic.libsyn.com/brianplain/TAA020.mp3

Find out how much your Chicago area home is worth in today's market:
go to http://myhousepage.com/chicagoland-house-values
(FREE service for Chicagoland homeowners)

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Topic:
Home Buying
Location:
Illinois Cook County
Tags:
buy vs rent
market trends
oak park real estate
lgbt realtor chicagoland oak park
oak park market update

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Rainmaker
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Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

Reasons abound and all good points, personal satisfaction is one of the best reasons. I always say everyone is buying just renters are buying for someone else.

May 16, 2013 12:52 PM #1
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Rainer
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Laurie Christofano

ABR, The Pych Team at RE/MAX in the Village
Buy or Sell in Chicagoland
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