Buying vs. Renting?

Dated: May 19 2020

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White-space: pre-wrap;">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.

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White-space: pre-wrap;">Source: Ginnie Mae & the National Association of Realtors

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White-space: pre-wrap;">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.

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White-space: pre-wrap;">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.

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White-space: pre-wrap;">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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