Being in Real Estate you can imagine that I get asked alot...Hey Joe, is now a good time to BUY? My answer is ...well it depends. However nobody ever asks if its a good time to rent...so today even though nobody is asking I want to tell you that NOOO...its not a good time to rent.
Right now when I check the MLS there are only 2 single family homes for rent in Cape Coral under $1200.00 a month
If you want to rent a pool home in the Cape you better be prepared to spend over $1500.00 There is 1 pool home for rent under $1400.00 today in the MLS
An article in the Wall Street Journal said recently that rent increased “faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters.”
The above article says...“In general, the higher rents go, the more difficult it will be for young people to save for down payments, making them likely to rent even longer.”
This is a little scary because I can see lots of people that really, really want to Buy a home...but feel like they cant afford it (see how much you can afford here). When the truth is in almost every situation you can own for far less than you can rent for.
In order to get free from the increase we are seeing in the rental market and lock in your monthly housing expense you need to consider Buying now ASAP. Talking with a knowledgable Realtor will help you make the right desicion for you, your family, and your future.