Renting vs. Buying: What Does it Really Cost?
Does anyone disagree that owning real estate rather than renting makes the most sense? Or... even if you do agree, did you realize that right now the cost to rent a Median Home is DOUBLE the cost of owning?
Per Pulsenomics research:
- The percentage of income needed to afford a median priced home is almost half the percentage of income needed to afford median rent.
- Buying costs are significantly less than renting costs.
- The percentage of income needed to afford a median priced home is less than the historic norm.
Historically low interest rates, as well as some available down payment assistance programs are continuing to make home ownership attainable. I'd love to sit down with you and my lender partner to talk about the type of funding you qualify for and to look at the price range that makes the most sense for your finances.