Is Renting Cheaper Than Buying?

You may not think it’s possible, but buying a home actually costs less than renting! Maybe not at the onset, since you need more money to close the loan, but overall, you spend less buying a home than renting.

Here’s why it may be cheaper:

Rents continually rise. If you bought and secured a 30-year fixed rate, your payment never changes, unless you refinance. You don’t have to worry about increasing housing costs and/or moving. According to Trulia, homeowners save 38% by buying a home versus renting.

Thinking about buying, selling, or simply have questions? Contact us today!