Is it better to rent or to buy?
While there may be certain very specific reasons that someone opts to be a tenant versus a homeowner, once can see from the chart that with all things being equal, homeownership during our current real estate market, may provide you with some annual savings.
There are many things to consider if you are going to make the move from renting to buying. Where do you want to live? What kind of property meets your needs? And, of course, you will need to speak with a reputable mortgage lender in order to get pre-qualified and be sure that you will be able to obtain financing for your home purchase. With interest rates still at historic lows, now is a really great time to buy a home.
The agents at Broadpoint Properties have many tools at their disposal and can assist you in figuring out the best options for you. This may include finding a local lender and learning about the current real estate market.
Check out this interesting chart courtesy of the California Association of Realtors® to learn more about the benefits of buying vs. renting. This chart shows the benefits of buying a property (homeownership) versus being a tenant.