Buying vs. Renting?

Dated: May 19 2020

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Is it better to buy or rent? The chart shows a cost comparison for a renter and a homeowner over a 7 year period. The renter starts out paying $800 per month with annual increases of 5% The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000. After 6 years, the homeowner's payment is lower than the renter's monthly payment. With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years.

Source: Ginnie Mae & the National Association of Realtors

Whether buying is better than renting depends on many factors. As a member of the National Association of Realtors, I take great pride in helping clients answer this question so they have the information needed to make the right decision.

Real Estate is still the number one investment one can make to help build wealth. With historic low interest rates, now is the time to buy.

I am happy to assist you and your family in achieving home ownership.

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Brian Bracey

Hello and welcome! I became interested in real estate when I bought my first home in 2006. This purchase was more than an investment in the traditional sense of home buying as it started me down a pa....

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