The Cost of Renting vs. Buying a Home Some Highlights:
· Historically, the choice between renting and buying a home has been a tough decision.
· Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear.
· Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year.
I often hear people weighing these 2 options and don't know where to start and how to calculate. These days we have many low-down payment options for buyers to take advantage of and interest rates are historically low at the moment.
Cost of money is low so don't wait. Interest rate cost will allow you buy much easier than waiting for the right time which never comes. Real estate is about planning and nobody owning home for at least 5 years have ever regretted this decision.
Pre- approval is free and so is my help to find you the right home at the right price.