Rent vs. Buy Archives - Page 2 of 2 - Joe Fernald

The American Dream of homeownership is alive and well. Recent reports show that the US homeownership rate has rebounded from recent lows and is headed in the right direction. The personal reasons to own differ for each buyer, but there are many basic similarities. Today we want to talk about the top 5 financial reasons

Renting or Buying…Either Way, You’re Paying Someone’s Mortgage

October 30, 2017

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy

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There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical

How to Save on a Mortgage Payment Whether Buying or Selling

October 26, 2017

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy

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In Trulia’s recent report, Rent vs. Buy: Roommate Edition, they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. The study explains: “Since we started keeping track in 2012, it’s been a better deal to buy than rent in America’s largest housing markets – and

The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

October 20, 2017

Buying Myths, For Buyers, Infographics, Rent vs. Buy

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Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious. Every market is different. Before you renew your lease again, find

Buying Remains Cheaper Than Renting in 39 States!

October 17, 2017

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy

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In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up

Net Worth of Homeowners 44X Greater than Renters

October 12, 2017

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy

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Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago. The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since 2013. At the same time, the median net