Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10
If you have a choice, there are lots of things to consider. There is no bind and truss with renting neither does it require a huge down payment.
Whereas, buying a home can be a profitable long-term investment with tax benefits. And also the peace of mind that comes when your home is not at the mercy of a landlord.
Money is always the determiner. In today’s hot seller’s market, with a lack of inventory and skyrocketing prices, many aspiring homebuyers are hand-tied.
The falling rents have been the flip side, especially in cities, where landlords in order to fill their vacant apartments are offering rent cuts and concessions. Even if rents show signs of recuperating now is a good time to sign a lease.
LendingTree in its recent study found that in all 50 of the largest U.S. metro areas, for renters the median housing costs were lower than for homeowners with a mortgage.
New York City had the greatest difference between the median rent and the median cost of owning a home with a mortgage of $1,363 a month, followed closely by San Francisco and San Jose, Calif., with the gap between renting and owning exceeding $1,000.
LendingTree compared median rents and mortgaged housing costs to reach its conclusions by using data from the Census Bureau.
Reference Source: The New York Times
