The truth is whether you rent or buy is really up to you and your lifestyle. When we are asked which is better, we usually follow up with a lot of questions to determine what might be the best course of action for that person or family.
For example if you are young, it might make sense to continue to rent so that when great job opportunities come up you are free to grab them without the hassle of having to sell your house before you can move. Or maybe you have a growing family and know you will need more space in the foreseeable future. Or maybe you just don’t want the responsibility of home upkeep, HOA fees, taxes & insurance.
Having said that – we are in a great market to buy and as outlined in the video below, home values are going up and so are rents!
In 2016 the average rent in the US increased by $90 per month or over $1000 per year. In contrast, homeowners of course had no increase in their mortgage payments but home values increased in almost every market across the country. Both of these trends look like they may continue.
Watch the video for more information.
We want to make sure that you consider all of your options so that you make the most informed decision for yourself and your family. If you need some help, please be sure to call us at 727-877-1200 or visit our website at https://propertytrackinc.com for more information.