Renting vs Buying a Home

Renting vs Buying a Home

Fact or Fiction:  It costs more to buy than to rent your home. Well that may very well depend on where you live more then anything else.

Just today, Trulia released its latest Rent vs. Buy study, showing that in 98 percent of American cities, it's actually less expensive to buy a home than it is to rent!  Of course, the type of home you might want to buy could be more pricy than what you’d be satisfied living in as a rental, and buying a home requires an upfront chunk of dough (i.e., down payment and closing costs) that renters don’t have to come up with. 

 But the age-old would-be buyer objection that “I can’t afford to buy a home” is now frequently shattered by the reality that when you take all things into account, buying a home at today’s prices and interest rates can actually cost the same or less than renting at today’s relatively high rental costs in many areas. 

That said, if you live in San Francisco or New York City, chances are good that it does actually cost more to buy than to rent. But if you live elsewhere, it behooves you to actually do the math, factor in the massive tax advantages of homeownership and see which is truly more expensive for you.  And make sure your decision accounts for the massive opportunity costs you might incur if you don’t take advantage of today’s prices and rates to buy a home of your own and start building equity - something you can simply never do as a tenant.  

 Jim Mazzerina


Jim Mazzerina Headshot
Author:
Phone: 609-618-7683
Dated: May 18th 2012
Views: 2,346
About Jim: ABR, E-Pro, SRES Jim is originally from north jersey - the Totowa-Little Falls-Paterson area. He...

Property Search









Chat with us now!

A real live chat operator is online now! We can immediately get your questions answered or make sure we get it to an agent who can.


RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

CHRISTMAS IN JULY ON LBI - MAGICAL CHRISTMAS SHOW MONDAY, JULY
HELOC Home Equity Lines Of Credit Are Back Are They For You - Home equity loans are back. The
Risk Of Natural Disaster Not Slowing Buyers At Jersey Shore - The risk of natural disaster doesn't
What Are Tidelands Of The Jersey Shore - Tidelands….riparian rights…gran

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Van Dyk Group
275 Rt 72 E
Manahawkin, NJ
609-789-0707
609-597-9179

Other Locations