Owning Is More Affordable than Renting in the Majority of the Country

Written by Emerald Coast Mortgage Syndicated User on February 1, 2022. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Emerald Coast, Pricing, Rent vs. Buy.

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says: “. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller...

Renters Missed Out on $51,500 This Past Year

Written by Emerald Coast Mortgage Syndicated User on November 1, 2021. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Pricing, Rent vs. Buy.

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting...

Reasons Renters Buy [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on October 1, 2021. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Emerald Coast, Rent vs. Buy.

Some Highlights When deciding whether you should rent or buy, make sure you’re considering these factors. Buying a home means consistent monthly payments. Homeownership also helps to build your wealth. And owning a home gives you greater flexibility than renting. If you’re ready to take advantage of the perks of homeownership, let’s connect to explore your options. Content previously posted on Keeping Current Matters