Buying Can Beat Renting In Less Than A Year
Buying can beat renting in less than a year, report finds
If you live in south Florida and are currently renting your home, you may reconsider after reading this article. With rental prices in south florida at nearly all time highs and no indication that things are going to change any time soon, it is definitely a good time to buy. Interest rates are still at historical lows ( but are climbing everyday ), home prices are still reasonable, and mortgage payments are typically less than a rent payment for a comparable property. http://articles.sun-sentinel.com/2014-05-05/business/fl-zillow-buy-versus-rent-20140505_1_svenja-gudell-mortgage-payment-zillow-comThe biggest obstacle preventing most renters from becoming homeowners is coming up with the down payment. With rent prices the way they are and the economy still recovering it is undoubtedly a difficult task for most of us to save enough for a down payment ( please read https://www.sterlingteetor.com/blog/100-ways-save-money-new-house/ ) but if you can tighten down the hatches just for a few years you could be on your way to owning your own home in no time.