Buying is Cheaper Than Renting in Nearly All Major Cities
Home buying is the smarter choice than renting, according to Trulia’s Winter 2012 Rent vs. Buy Index. Buying a home is more affordable than renting in 98 of the nation’s 100 largest metro areas, according to the index, which tracks asking prices for rental units compared to for-sale homes in major metro areas. Falling home values and low mortgage rates have made home ownership more affordable. Meanwhile, rents have been on the rise.
Leads to the question: “Why rent”? Of course there are reasons to rent vs buying a home……temporary employment may have you here for only a short time, or bad credit making a loan impossible right now (don’t just think you have bad credit and can’t buy – there are many programs that you might be able to use, so call me before you throw the idea away about buying). Other than those two, buying is cheaper and better investment than renting.
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