Making the Best Choice - Buy vs. Rent

By
Mortgage and Lending with ChangeMyRate.com® A Mortgage Corporation NMLS #1326269

“May your choices reflect your hopes, and not your fears.” Nelson Mandela

Our cities are waking up after being cooped up for a year. Mortgage rates are still low, and the real estate market is still hot.  It is decision time.  Do you buy a home, or do you continue renting?  What are some profitable exit strategies you can use later if you decide to move to another geographic area? 

Rent hikes are predicted to rise as the demand for housing continues.  How much has your rent gone up over the last three to five years?   If you bought a home that is a similar size to the one you rent, what would it cost you to buy it?  How much money would you need to put down?  What would your payment be?

 What would your fixed-rate principal and interest payment be?  How much lower would your house payment be compared to your current rent? 

For more information read our helpful guide the SCOOP! Blog

Comments (1)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Each has advantages and disadvantages similar to what you're saying, But I think this generation in the bigger cities as a real issue with rents being th size mortgages

May 25, 2021 09:11 PM