Les Christie, CNN, on Tuesday August 16, 2011, 6:07 am EDT
Home prices have taken such a beating and demand for rental units has increased so much that it's now cheaper to buy a two-bedroom home than to rent one in most major U.S. cities.According to real estate web site Trulia, buying was cheaper than renting in 74% of the country's 50 largest cities in July. In just 12% of the cities, including New York, Seattle and San Francisco, renting was cheaper. In the remaining 14% of cities, renting was less expensive but close to the cost of buying.
Add in the tax perks of home ownership and for those who can afford it (and who can actually qualify for a loan), it certainly is a buyer's market.
Buying is definitely the better way to go. There are only a few circumstances when it's better to rent - if you are relocating and unsure whether you will stay, or if you do not have the credit to make a purchase.
ReplyDeleteYes, it is much practical to buy than rent. Many people indeed find that buying a house is a sure way to go for them.
ReplyDeleteYes,definitely. Buying is better than renting and the fact that ownership is less expensive than renting would certainly be a buyer's market. Thanks for the post.
ReplyDeleteBuying is definitely better than renting. You can save more when you buy a home than to rent. And sometimes many renters have spent a lot into a home only to find out that the landlord is planning to sell the house. The money spent on the house will only benefit the seller.
ReplyDeleteBuying is definitely better, and cheaper than renting. Rates are low, and the amount of people renting is growing, which means rental rates go up. So buying is definitely cheaper. In our area, we've seen an increase in sales for Multi-Family homes (2 and 3 family), where a buyer can purchase the home, live in one side, and rent out the other, and the added income from the rent would go towards mortgage payments.
ReplyDeleteI work with the Seattle homes market and that is exactly what I've seen and try to educate potential buyers on.
ReplyDeleteThanks for posting this!The topic is helpful to all buyers.I agree that all all the tasks or anything that we need to be doing, should know the rules first.Keep on posting.
ReplyDeleteThere are lots of important reasons why everyone should know and and be aware of the changes in the real estate before having the final decision on the type of house one should invest.Buying is definitely better than renting.
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