The results of the latestRent vs. Buy ReportfromTruliashow 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 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% 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.
With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.
Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according toFreddie Mac.
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 find your dream home.
Author:Ken Wood Phone: 951-323-7630 Dated: June 19th 2017 Views: 100 About Ken: ...
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Here are four great reasons to consider buying a home today instead of
"I wanted to express our experience in buying our home in December of 2017.
We found a Realtor by the name of Veronica Salaman who worked with us continuously nonstop.
My husband and I were looking into buying a home and Veronica not only helped
finding the place but she also took her time to explain all the forms and all the work that needed
to be done. She let us know of all who were going to be involved. Veronica helped and made us
feel very comfortable and we trusted her in the decisions that were made. Veronica is one you can
Trust to get things done! She set up all appointments for us and all went smoothly. This was during a
difficult time to buy our home during the Thomas fire and nobody wanted to give us insurance due to
the fire. We did not know what we were going to do being that the fire was only 25% contained and the
Insurance company said that it would have to be at least 75% contained. So, Veronica searched and
found an insurance company who said they would give us insurance right away. I have to say about
Veronica is that she works hard! Everything went smooth and we closed escrow within the 30 days.
I could not believe how fast and smooth this purchase was. I am so grateful for Veronica Salaman
and all her hard work, effort, and time to help us. We love our new home!
We would want Veronica to help us again if we ever need to purchase another home. I would not want anyone else.