Health & Fitness
Is it Cheaper to Rent vs. Buy?
Is renting or buying a better financial bet? Trulia says No!One young family in Naugatuck agrees!
Although mortgage rates have risen in the past 6 months, home price gains have slowed. Trulia says "Buying a home is now 38% cheaper than renting an apartment vs. being 44% cheaper one year ago."
The gap may narrower if demand causes prices to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to a strengthening economy and Fed tapering.
I working with a young couple who, with a new baby, are looking for a real home. I've Pre-Approved them for a mortgage sufficient to buy $220,000 house with mortgage payment, tax and insurance escrow plus MI that is $150 less than their current rent. That $1800 savings per year is a lot of diapers.
Call Me at 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE Mortgage Pre-Approval service. Then call your agent to schedule a showing and be ready to make an offer.