Buying beats renting in 64 percent of metros after three years - Interactive Tool
Zillow
Buying a home is more affordable than renting in nearly two-thirds of metros after three years of paying for a mortgage. For its calculation, Zillow considered costs associated with buying and renting, such as upfront payments, closing costs, insurance, utilities, and maintenance. In several ZIP codes, the breakeven horizon was as low as 1 year, including areas within Dallas, Philadelphia, Detroit, Riverside, St. Louis, and Tampa. The decision to buy or rent should always take into account a number of factors, one of which is how long a buyer or renter plans to stay in a property…
The
decision to pursue homeownership may be based on many factors:
everything from a friend’s decision to purchase a home or a family
member’s advice against “throwing your money away on rent” to your bad
experience with a landlord or the noisy neighbors sharing your wall.
While all of those scenarios (minus peer pressure, of course) may
inspire valid arguments for considering the purchase of a home, how do
you determine if you’re genuinely ready to join the ranks of homeowners? After all, buying a home is a massive decision and includes multiple, long-term financial and lifestyle obligations. The average person spends around 1/3 of their income on their home.You’ll
still need to do the work to make sure your personal finances and
holistic life picture are also in alignment before you buy, as well of
the work it takes to ensure that your real estate and mortgage decisions
are sustainable and smart, over the long-term. A good Buyer’s Agent is invaluable to a Buyer, and can be the difference between a wonderful transaction, and a nightmare.
Zillow
Buying a home is more affordable than renting in nearly two-thirds of metros after three years of paying for a mortgage. For its calculation, Zillow considered costs associated with buying and renting, such as upfront payments, closing costs, insurance, utilities, and maintenance. In several ZIP codes, the breakeven horizon was as low as 1 year, including areas within Dallas, Philadelphia, Detroit, Riverside, St. Louis, and Tampa. The decision to buy or rent should always take into account a number of factors, one of which is how long a buyer or renter plans to stay in a property…
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Buying beats renting in 64 percent of metros after three years - Interactive Tool
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