Is Now a Good Time to Rent?

People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.

Down Payment 

Here is Columbus Ohio the avearge down payment in 2017 was 6.7%. 

A future home buyer can easily be can be mislead on how much they have to save to buy a home. As you can see your rent rates are higher than a home that sells for under $225,000. 

Credit Score

Credit scores are also misleading. A credit score as low as 660 will qualify you to purchase a home as well.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today!

Start your home search now!

You might also enjoy reading...

• 2 Major Myths Holding Back Home Buyers
• 5 Reasons Millennials Choose to Buy [INFOGRAPHIC]
• What is the Cost of Waiting Until Next Year to Buy?
• The Cost of Renting vs. Buying a Home [INFOGRAPHIC]