There are a lot of reasons why owning is better than renting, here are a few reasons comparing the cost of not owning a home:1- The Price is so CloseRenters are facing increases everyday. With
Buying A Home Is 36 Percent Less Expensive Than Renting Nationwide
In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide!
Other interesting findings in the report include:
Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
Some markets may tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.
Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.
Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to discuss the best course of action to get you into your dream home!
Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consistently been in the top 10% in sales for over a decade in 2 states. In order to accommodate a rapidly ex....
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Located in Longview, WA. Built in 2000, This sprawling & spacious home backs to a green space with wildlife and trees for a peaceful retreat! At 3604 sq. ft. This beautiful 5 bedroom, Daylight Ranch