Buying Still Cheaper Than Renting
We’ve seen headlines declaring that it is now ‘cheaper to buy than to rent a home’ for a long time now, as home prices have fallen and people have realized that putting money towards owning a home is a better deal than spending it on rent with no return. Now we have rents continuing to climb but home prices still falling in many areas, which means that this is still a great time to invest the money otherwise given to your landlord on a new home.
Rising rents are putting pressure on renters to just bite the bullet and buy a home.
Owning a home is an important part of the American dream. Reasons for holding off on that purchase are many, and not all of them financial. But one thing remains true: money paid toward rent is not an investment; money paid toward home ownership is. If you are interested in seeing if you can get approved to purchase a home contact our team, we have lenders who can work with you to get you approved!