Published on August 14th, 2015 | by Genevieve Williams0
Fact: It’s Currently More Economical to BUY than to Rent
According to a recent Zillow study, it is more affordable to buy a home than to rent. In 28 out of the 35 metro areas polled, buyers spent significantly less of their monthly income towards their mortgages than renters paid to their landlords (approximately 15% versus 30% of monthly income). Rental rates have continued to rise across the country, but incomes haven’t…and with mortgage interest rates still very low, home owners can expect to pay less than renters! If you’re renting, but have considered buying in the near future, now is the time, before interest rates do rise.; I’d love to help you find your new home! To read more of the Zillow study, visit here.