Renting Vs Buying

Renting Vs Buying

Weekly if not daily our team has a conversation with customers regarding buying vs. renting. Many conversations with customers that are on the fence on buying their own home tell us “I've decided to rent since renting is cheaper than buying a home” or “I've decided to rent until I can save up for a down payment.” So let’s address the ever popular question we hear almost every day "Is renting a home cheaper than buying a home?" Actually, in many cases it is not. In today's market we've worked with many clients who spend less on their monthly mortgage payment than they did on their rent. Let me explain further.   

At the present time it is a buyers’ market because of the dip the values of properties within the area have taken over the last four years. And with the interest rates at an all time low as they are it is a perfect time to buy. In recent months our team has helped a number of people get into their first homes with zero down payment, zero closing cost, actually no out of pocket cost, and their monthly payment is actually lower than what they were paying in rent.  For example, a young couple’s mortgage payment was $300 cheaper then what they were paying for in rent plus they were living in a much nicer home than the rental property was. In addition to their financial savings, they are building equity with their new home purchase.
 

It is important to work with an agent with experience and is an expert negotiator to ensure you’ll get the best possible deal with your home purchases. Our team will walk you through a comfortable and enjoyable home buying experience.  I am fortunate to have an excellent team that values timely communication, excellent customer service, and ensures all your needs will be met. Remember the question is not "Can I afford to buy a home?" it's "Can I afford not to?"


Kelsey Rorabeck Headshot
Author:
Phone: 715-529-1410
Dated: September 10th 2013
Views: 518
About Kelsey: Kelsey was a student athlete for 4 years at Augsburg College and received the Joyce Plaff (scholar a...

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