Cost of Renting vs Buying Today

Some Highlights:

  • Historically, the choice between renting or buying a home has been a tough decision.
  • Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

The cost of renting vs buying a home today have to consider many factors. Low interest rates have made homeownership possible for many.

It’s a great for first time homebuyers as well as homeowners looking to move up. When you compare renting to buying a home, buying makes more sense financially and in the overall wealth building.

Home prices have been appreciating in double digits year after year. The longer you wait to buy, you will end up spending more money. The best answer to when is the best time to buy, it is, buy now.

Posted on March 31, 2018 at 11:42 pm
Kasia Giron | Category: Home Ownership | Tagged , , , , , , ,

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